Renter's credit expansion to provide parity with the homestead credit refund provision

This bill expands Minnesota's renter's tax credit to match the structure of the existing homestead credit for homeowners. It adjusts the calculation so renters with household incomes under $143,140 can claim a credit covering up to 50% of rent (depending on income level), with a maximum credit of $3,500 for most income brackets. The credit directly affects renters who pay rent that includes property taxes, particularly those with lower to middle incomes. Key provisions establish income-based percentages renters pay versus the credit amount, ensuring parity with the homestead credit's refund structure. The bill amends Minnesota Statutes § 290.0693, subdivision 3, to implement these changes.