1.1.................... moves to amend H.F. No. 451 as follows:
1.2Delete everything after the enacting clause and insert:

1.3    "Section 1. Minnesota Statutes 2010, section 289A.02, subdivision 7, is amended to
1.4read:
1.5    Subd. 7. Internal Revenue Code. Unless specifically defined otherwise, for taxable
1.6years beginning before January 1, 2010, and after December 31, 2010, "Internal Revenue
1.7Code" means the Internal Revenue Code of 1986, as amended through March 18, 2010;
1.8and for taxable years beginning after December 31, 2009, and before January 1, 2011,
1.9"Internal Revenue Code" means the Internal Revenue Code of 1986, as amended through
1.10December 17, 2010.
1.11EFFECTIVE DATE.This section is effective the day after final enactment.

1.12    Sec. 2. Minnesota Statutes 2010, section 290.01, subdivision 19, is amended to read:
1.13    Subd. 19. Net income. The term "net income" means the federal taxable income,
1.14as defined in section 63 of the Internal Revenue Code of 1986, as amended through the
1.15date named in this subdivision, incorporating the federal effective dates of changes to the
1.16Internal Revenue Code and any elections made by the taxpayer in accordance with the
1.17Internal Revenue Code in determining federal taxable income for federal income tax
1.18purposes, and with the modifications provided in subdivisions 19a to 19f.
1.19    In the case of a regulated investment company or a fund thereof, as defined in section
1.20851(a) or 851(g) of the Internal Revenue Code, federal taxable income means investment
1.21company taxable income as defined in section 852(b)(2) of the Internal Revenue Code,
1.22except that:
1.23    (1) the exclusion of net capital gain provided in section 852(b)(2)(A) of the Internal
1.24Revenue Code does not apply;
2.1    (2) the deduction for dividends paid under section 852(b)(2)(D) of the Internal
2.2Revenue Code must be applied by allowing a deduction for capital gain dividends and
2.3exempt-interest dividends as defined in sections 852(b)(3)(C) and 852(b)(5) of the Internal
2.4Revenue Code; and
2.5    (3) the deduction for dividends paid must also be applied in the amount of any
2.6undistributed capital gains which the regulated investment company elects to have treated
2.7as provided in section 852(b)(3)(D) of the Internal Revenue Code.
2.8    The net income of a real estate investment trust as defined and limited by section
2.9856(a), (b), and (c) of the Internal Revenue Code means the real estate investment trust
2.10taxable income as defined in section 857(b)(2) of the Internal Revenue Code.
2.11    The net income of a designated settlement fund as defined in section 468B(d) of
2.12the Internal Revenue Code means the gross income as defined in section 468B(b) of the
2.13Internal Revenue Code.
2.14    The Internal Revenue Code of 1986, as amended through March 18, 2010, shall be
2.15in effect for taxable years beginning after December 31, 1996, and before January 1, 2010,
2.16and for taxable years beginning after December 31, 2010. The Internal Revenue Code of
2.171986, as amended through December 17, 2010, is in effect for taxable years beginning
2.18after December 31, 2009, and before January 1, 2011. The provisions of the act of January
2.1922, 2010, Public Law 111-126, to accelerate the benefits for charitable cash contributions
2.20for the relief of victims of the Haitian earthquake, are effective at the same time it became
2.21effective for federal purposes and apply to the subtraction under subdivision 19b, clause
2.22(6). The provisions of Title II, section 2112, of the act of September 27, 2010, Public
2.23Law 111-240, rollovers from elective deferral plans to designated Roth accounts, are
2.24effective at the same time they became effective for federal purposes and taxable 2010
2.25rollovers are included in net income at the same time they are included in gross income
2.26for federal purposes.
2.27    Except as otherwise provided, references to the Internal Revenue Code in
2.28subdivisions 19 to 19f mean the code in effect for purposes of determining net income for
2.29the applicable year.
2.30EFFECTIVE DATE.This section is effective the day after final enactment.

2.31    Sec. 3. Minnesota Statutes 2010, section 290.01, subdivision 31, is amended to read:
2.32    Subd. 31. Internal Revenue Code. Unless specifically defined otherwise, for
2.33taxable years beginning before January 1, 2010, and after December 31, 2010, "Internal
2.34Revenue Code" means the Internal Revenue Code of 1986, as amended through March 18,
2.352010; and for taxable years beginning after December 31, 2009, and before January 1,
3.12011, "Internal Revenue Code" means the Internal Revenue Code of 1986, as amended
3.2through December 17, 2010. Internal Revenue Code also includes any uncodified
3.3provision in federal law that relates to provisions of the Internal Revenue Code that are
3.4incorporated into Minnesota law.
3.5EFFECTIVE DATE.This section is effective the day after final enactment except
3.6the changes incorporated by federal changes are effective at the same time as the changes
3.7were effective for federal purposes.

3.8    Sec. 4. Minnesota Statutes 2010, section 290A.03, subdivision 15, is amended to read:
3.9    Subd. 15. Internal Revenue Code. For taxable years beginning before January 1,
3.102010, and after December 31, 2010, "Internal Revenue Code" means the Internal Revenue
3.11Code of 1986, as amended through March 18, 2010; and for taxable years beginning after
3.12December 31, 2009, and before January 1, 2011, "Internal Revenue Code" means the
3.13Internal Revenue Code of 1986, as amended through December 17, 2010.
3.14EFFECTIVE DATE.This section is effective for property tax refunds based on
3.15property taxes payable on or after December 31, 2010, and rent paid on or after December
3.1631, 2009.

3.17    Sec. 5. CORRECTED FORM W-2 NOT REQUIRED.
3.18Employers who have prepared and distributed form W-2, wage and tax statement,
3.19for tax year 2010, that reported to employees the amount of health coverage provided to
3.20adult children under age 27 includable in net income under prior law, are not required to
3.21prepare and distribute corrected tax year 2010 form W-2.
3.22EFFECTIVE DATE.This section is effective the day following final enactment."
3.23Amend the title accordingly