Individual income tax subtraction for income earned by senior taxpayers established.

This bill creates a new tax subtraction for Minnesota individual income tax that reduces taxable income for taxpayers aged 65 and older. It applies to both single filers and married couples filing jointly, where the subtraction covers income received by any spouse who has reached age 65 during the tax year. The provision defines "income" broadly to include amounts included in adjusted gross income or required to be added back under existing tax rules. The bill would take effect for taxable years beginning after December 31, 2025, meaning it would apply to tax returns filed in 2026 and later.