While the 2024 House tax bill appears modest by comparison with the 2023 edition, it would expand the scope of some of last year’s provisions and call for more transparency from corporate filers, much to some House members’ chagrin.
Sponsored by Rep. Aisha Gomez (DFL-Mpls), HF5247, as amended, would make last year’s child tax credit available to households with 18-year-olds (instead of cutting it off at age 17) and make it possible to stagger the credit over the course of multiple payments. It would also allow seniors to receive advance payments on their homestead credits, and direct the Department of Revenue to develop a tax preparation program that would be free for most filers.
Debate on the bill started on Friday afternoon and continued into the evening, but the House is expected to pass the bill and send it to the Senate.