Minnesota legislation · 94th Legislature 2025-2026
Minnesota HF1357: Income tax; addition required for deemed capital gains on certain assets of a decedent.
Status: In committee, February 19, 2026
What the bill says
A bill for an act relating to taxation; income; requiring an addition for deemed capital gains on certain assets of a decedent; amending Minnesota Statutes 2024, sections 289A.19, by adding a subdivision; 290.0131, by adding a subdivision; proposing coding for new law in Minnesota Statutes, chapter 290.
From the introduced text, February 21, 2025:
A bill for an act relating to taxation; income; requiring an addition for deemed capital gains on certain assets of a decedent; amending Minnesota Statutes 2024, sections 289A.19, by adding a subdivision; 290.0131, by adding a subdivision; proposing coding for new law in Minnesota Statutes, chapter 290. Section 1. Minnesota Statutes 2024, section 289A.19, is amended by adding a subdivision to read: new text begin [ADDED: Subd. 8.] new text end new text begin [ADDED: Returns including nontaxed capital gains.] new text end new text begin [ADDED: The commissioner must grant an automatic extension of 275 days to file an individual income tax return that includes an amount added to an individual's federal adjusted gross income under section 290.0131, subdivision 21. Where good cause exists, the commissioner may grant an extension of an additional 180 days for filing this return.] new text end new text begin [ADDED: EFFECTIVE DATE.] new text end new text begin [ADDED: This section is effective for taxable years beginning after December 31, 2025.] new text end Sec. 2. Minnesota Statutes 2024, section 290.0131, is amended by adding a subdivision to read: new text begin [ADDED: Subd. 21.] new text end new text begin [ADDED: Nontaxed capital gains.] new text end new text begin [ADDED: The amount of nontaxed capital gains as determined under section 290.055 …
Sponsors
- Smith, Andy (D, 25B) · primary sponsor
- Lee, K. (D)
- Kaohly Her (D)
- John Huot (D)
Latest actions
- : Author added Huot
- : Introduction and first reading, referred to Taxes
Common questions
- What is HF1357?
- HF1357 is a bill in the Minnesota Legislature (94th Legislature 2025-2026): Income tax; addition required for deemed capital gains on certain assets of a decedent.
- What does HF1357 do?
- In its own words: A bill for an act relating to taxation; income; requiring an addition for deemed capital gains on certain assets of a decedent; amending Minnesota Statutes 2024, sections 289A.19, by adding a subdivision; 290.0131, by adding a subdivision; proposing coding for new law in Minnesota Statutes, chapter 290.
- What is the status of HF1357?
- In committee as of February 19, 2026. Latest action: Author added Huot (February 19, 2026).
- Who sponsored HF1357?
- Smith, Andy (D, 25B), with 3 co-sponsors.
- Where is the official record for HF1357?
- On the Minnesota Legislature website: https://www.revisor.mn.gov/bills/bill.php?f=HF1357&y=2025&ssn=0&b=house
Source: official Minnesota record. Tracked by Delilah, AI for legislation across all 50 states and Congress.