Advance payments of the K-12 education credit provided, and report required.

This bill allows Minnesota taxpayers to receive advance payments of their K-12 education tax credit, which would be distributed in two installments rather than all at once after filing taxes. Eligible families with qualifying children and adjusted gross income below certain thresholds can apply for these payments by September 1, with distribution occurring between July and September 15. The advance payments reduce the total credit amount the taxpayer can claim later in the year, and any excess payments would increase the taxpayer's tax liability. Additionally, the bill requires the state revenue commissioner to submit a report by January 2027 evaluating whether advance payments could be delivered using electronic benefits transfer cards, including cost estimates and potential advantages or disadvantages.