Minnesota legislation · 94th Legislature 2025-2026
Minnesota HF4951: Tax on certain credit card interest income imposed.
Status: In committee, April 13, 2026
What the bill says
A bill for an act relating to taxation; corporations; imposing a tax on certain credit card interest income; proposing coding for new law in Minnesota Statutes, chapter 290.
From the introduced text, April 13, 2026:
A bill for an act relating to taxation; corporations; imposing a tax on certain credit card interest income; proposing coding for new law in Minnesota Statutes, chapter 290. Section 1. new text begin [ADDED: [290.034] EXCESS CREDIT CARD INTEREST INCOME 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) "Annual percentage rate" has the meaning given in Code of Federal Regulations, title 12, part 226.] new text end new text begin [ADDED: (c) "Credit card" means a card or device issued under an arrangement pursuant to which a financial institution gives to a cardholder the privilege of obtaining credit from the financial institution or other person in purchasing or leasing property or services, obtaining loans, or otherwise. A transaction is "pursuant to a credit card" only if credit is obtained according to the terms of the arrangement by transmitting information contained on the card or device orally, in writing, by mechanical or electronic methods, or in any other manner.] new text end new text begin [ADDED: (d) "Finance charge" has the meaning given in Code of Federal Regulations, title 12, part 226.] new …
Sponsors
- Alex Falconer (D) · primary sponsor
- Elliott Engen (R)
Latest actions
- : Introduction and first reading, referred to Taxes
Common questions
- What is HF4951?
- HF4951 is a bill in the Minnesota Legislature (94th Legislature 2025-2026): Tax on certain credit card interest income imposed.
- What does HF4951 do?
- In its own words: A bill for an act relating to taxation; corporations; imposing a tax on certain credit card interest income; proposing coding for new law in Minnesota Statutes, chapter 290.
- What is the status of HF4951?
- In committee as of April 13, 2026. Latest action: Introduction and first reading, referred to Taxes (April 13, 2026).
- Who sponsored HF4951?
- Alex Falconer (D), with 1 co-sponsor.
- Where is the official record for HF4951?
- On the Minnesota Legislature website: https://www.revisor.mn.gov/bills/bill.php?f=HF4951&y=2025&ssn=0&b=house
Source: official Minnesota record. Tracked by Delilah, AI for legislation across all 50 states and Congress.