Negotiators for the Republican-controlled Senate and the DFL-led House put the final touches on a tax bill to provide nearly $1 billion in tax relief over the next four years.
Legislative leaders and Governor Tim Walz agreed on parameters of the package before the regular legislative session adjourned and a working group then hammered out the details.
Thousands of businesses will be exempt from paying state income tax on COVID emergency loans received through the federal paycheck protection program.
Up to $10,200 dollars of unemployment compensation during the pandemic will also not be subject to state income tax.
The package includes no new tax increases after House leaders and the governor quietly dropped their push for a new fifth income tax bracket.
After three days of filibusters late last week, the House also passed budget bills for agriculture, broadband, higher education, and cultural legacy over the weekend.
