Tax Exemption Bill Approved 19 Feb 13

The Legislature has sent Governor Dayton a bill that will allow about 250,000 Minnesota taxpayers to claim new federal tax deductions on their state taxes as well. The House gave the legislation final approval Monday. Some Republicans objected to several changes made by the Senate from an earlier House bill. Among those eligible for deductions are teachers who can claim education expenses, homeowners who take itemized deductions for their mortgage insurance premiums, and college students or parents using higher education tuition deductions. Dayton has said that he will sign the bill.