Income definition used to calculate homestead credit refunds simplified.

HF 2303 simplifies how Minnesota calculates income for homestead credit refunds by clarifying the definition of "income" in statute. It directly affects homeowners who claim the homestead credit, particularly those with multiple dependents. The bill replaces complex previous rules with a fixed multiplier system: for each dependent, a specific percentage (1.4x for the first, 1.3x for the second, etc.) of the exemption amount is subtracted from income. This change streamlines the calculation process without altering eligibility or refund amounts.