Individual income tax subtraction for provided overtime pay.

HF 415 would allow Minnesota taxpayers to subtract their overtime pay from taxable income when filing state income taxes. It specifically covers wages, salaries, tips, and other compensation earned for hours worked beyond the standard workweek under Minnesota or federal law. This change reduces taxable income for eligible workers, potentially lowering their state tax burden. The provision takes effect for tax returns filed in 2025 and later.