Minn. Bill Would Drop Forgiven Small-Biz Loans From Income

Minnesota would exclude forgiven small-business loan amounts granted as a response to the novel coronavirus pandemic from state income under a bill introduced Thursday in the state Senate.

S.F. 838, which was introduced by Sen. Zach Duckworth, R-Lakeville, would exclude forgiven Paycheck Protection Program loans granted under the Coronavirus Aid, Relief and Economic Security Act  from Minnesota gross income calculations.

The House of Representatives version of the bill is H.F. 777.

--Editing by Vincent Sherry. 

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