Resident trust definition modification

This bill (SF 6) amends Minnesota Statutes section 290.01 to update the definition of a "resident trust" for income tax purposes. It creates two distinct sets of criteria: one for trusts established or administered before December 31, 1995, and another for newer trusts (after that date). For newer trusts, a trust qualifies as "resident" only if it meets two conditions (e.g., most investment decisions made in Minnesota) AND either the grantor was Minnesota-domiciled at irrevocability or the trust was created by a Minnesota-domiciled decedent. This change directly affects trusts subject to Minnesota income tax, clarifying which trusts must pay state taxes based on their administration location and grantor ties.