Scored 7/10 on whether it helps or hurts everyday people.
The Renters & Homeowners Bill
Tax break for forgiven debt helps renters and homeowners
Certain discharges of indebtedness subtraction provision and certain discharges of indebtedness from income for purposes of the property tax refund and the renter's income tax credit exclusion provision
Good for everyday people ·
If passed, the bill would let people skip paying tax on certain forgiven debts, so they could keep more of their property tax refund or renter credit.
Our take
What we think, in plain words.
Right now the bill is just starting, but if it becomes law it could lower tax bills for many renters and homeowners, while the state may collect less revenue.
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The facts
What the bill actually says, no spin.
- The bill would allow certain debt forgiveness to be excluded from taxable income.
- It applies to the property tax refund and renter's income tax credit.
- It is currently only introduced and has not been voted on.
In the news
Scanning the news for this bill…
Headlines gathered from across the news, starting points to explore, not endorsements. Always read the official text before acting.
Sources
Read it yourself: the official bill and records.
This bill is in the Minnesota Bill Book 2026
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