Refundable income tax credit for certain teachers authorization

SF 186 creates a refundable income tax credit for eligible Minnesota teachers. It provides up to $15,000 for full-year teachers (teaching ≥150 days) earning under $60,000 annually, or $7,500 for part-year teachers (75-149 days) under $30,000, with a $2,000 minimum credit for those above thresholds. The credit is refundable, meaning teachers can receive money back even if they owe no tax, and amounts are adjusted annually for inflation. The bill takes effect for tax returns filed in 2025.