Constitutional Amendment proposal requiring that a portion of a projected budget surplus be returned to state taxpayers

This bill proposes a constitutional amendment requiring Minnesota to return excess tax revenue to taxpayers. It would create a "Minnesota tax relief account" funded by revenues exceeding 105% of projected spending, as determined in the biennial budget forecast. Funds in the account must be used for tax refunds or rebates (non-taxable to recipients) or to offset costs of tax reductions. The amendment requires voter approval at the 2026 general election. It directly affects all Minnesota taxpayers by mandating a mechanism to return surplus state revenue.