ST. PAUL, Minn. – The first bill to clear both houses of the 2023 Legislature, for specific tax breaks, was signed into law by Governor Tim Walz. The bill:
> Refunds state taxes on federal economic stimulus funds.
> Eliminates the state tax on student loan forgiveness, if indeed the U.S. Supreme Court approves President Biden’s student loan relief.
The law amounts to $100 million in tax cuts. This a minor compared with partisan struggles on larger tax legislation in Senate and House committees. This lesser part of major tax legislation was singled out to move quickly through the Legislature to give tax preparers time to update their systems before taxpayers file their 2022 return.