Subtraction for certain medals and prizes provision

This bill creates a tax subtraction for Minnesota residents who receive medals or prize money from the United States Olympic Committee for competing in the Olympic or Paralympic Games. The provision allows athletes to exclude the value of these awards from their state taxable income, starting for tax years beginning after December 31, 2025. By amending Minnesota Statutes 290.0132, the legislation adds a specific category of income that can be subtracted when calculating state income tax liability. The bill does not affect other types of income or tax calculations beyond this specific Olympic-related provision.