Minnesota legislation · 94th Legislature 2025-2026
Minnesota HF4616: Minnesota wealth tax established.
Status: In committee, May 13, 2026
What the bill says
A bill for an act relating to taxation; establishing a Minnesota wealth tax; proposing coding for new law in Minnesota Statutes, chapter 290.
From the introduced text, March 24, 2026:
A bill for an act relating to taxation; establishing a Minnesota wealth tax; proposing coding for new law in Minnesota Statutes, chapter 290. Section 1. new text begin [ADDED: [290.055] WEALTH TAX.] new text end new text begin [ADDED: Subdivision 1.] new text end new text begin [ADDED: Definitions.] new text end new text begin [ADDED: (a) For purposes of this section, the following terms have the meanings given.] new text end new text begin [ADDED: (b) "Pass-through entity" has the meaning given in section 291.005, subdivision 1.] new text end new text begin [ADDED: (c) "Situs of property" means, with respect to:] new text end new text begin [] new text end new text begin [ and] new text end new text begin [ADDED: (3) intangible personal property, the state or country in which an individual taxpayer is domiciled or the state of which a trust is a resident.] new text end new text begin [ADDED: (d) "Taxable wealth" means:] new text end new text begin [ minus] new text end new text begin [ADDED: (2) the sum of all debts and financial obligations owed by the taxpayer.] new text end new text begin [ADDED: Subd. 2.] new text end new text begin [ADDED: Tax imposed.] new text end new text begin [ADDED: A tax is annually imposed equal …
Sponsors
- Aisha Gomez (D) · primary sponsor
- Lee, K. (D)
- Liish Kozlowski (D, 08B)
- Emma Greenman (D)
- Leigh Finke (D)
- Samantha Sencer-Mura (D)
- Smith, Andy (D, 25B)
- Sydney Jordan (D)
- Jay Xiong (D)
- Anquam Mahamoud (D)
- Mohamud Noor (D)
- Athena Hollins (D)
Latest actions
- : Author added Johnson, P.
- : Author added Jones
- : Author added Rehrauer
- : Authors added Falconer and Pursell
- : Introduction and first reading, referred to Taxes
Common questions
- What is HF4616?
- HF4616 is a bill in the Minnesota Legislature (94th Legislature 2025-2026): Minnesota wealth tax established.
- What does HF4616 do?
- In its own words: A bill for an act relating to taxation; establishing a Minnesota wealth tax; proposing coding for new law in Minnesota Statutes, chapter 290.
- What is the status of HF4616?
- In committee as of May 13, 2026. Latest action: Author added Johnson, P. (May 13, 2026).
- Who sponsored HF4616?
- Aisha Gomez (D), with 11 co-sponsors.
- Where is the official record for HF4616?
- On the Minnesota Legislature website: https://www.revisor.mn.gov/bills/bill.php?f=HF4616&y=2025&ssn=0&b=house
Source: official Minnesota record. Tracked by Delilah, AI for legislation across all 50 states and Congress.