Minnesota's bold tax bill targets social media firms and aids homeowners
The Minnesota Senate Taxes Committee walked through a large tax bill Wednesday which includes a number of policies, including a special account with funds the state can use to host major sporting events.
It would be called the Sports and Events Reimbursement Program and would capture tax revenue from large scale sporting events so that it can be used to make bids to host future events.
There's also a tax increase on social media companies profiting off of consumer data, and a one-time property tax refund boost to help families with those high costs for an average increase of $171 on top of existing refunds.
"I think it's really critical with the dramatic increases we've seen in property taxes due to pressures on local governments, due to HR one, due to a lot of the challenges that our local communities face, that we show as a state that we're willing to provide some relief to local residents as well," said DFL state Sen. Grant Hauschild.
This bill still needs a vote in the full Senate and then of course the provisions need to be negotiated with the tied state House where Republicans and Democrats share power.
Legislative leaders have already begun their discussions with just two-and-a-half weeks to go until session ends.
