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Taxes Committee refers short-line railroad credit modifications to Transportation
Summary
Senate File 1046 would refine the short-line improvement modernization (SLIM) tax credit, add a certification process through the Department of Transportation, and allow transfer mechanics for credit certificates; the committee voted to refer the bill to Transportation for further work on administrability and retroactivity issues.
Senate File 1046, sponsored by Senator Weber, would modify the short-line improvement and modernization tax credit enacted in 2023 to clarify the credit-certificate process, allow transfer of credit certificates, and set limits on carryovers.
Senator Weber told the Taxes Committee the bill clarifies the certification role of the Minnesota Department of Transportation,…
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