Walz signs his first bill of the 2-week-old legislative session, fixes error to save taxpayers $350M

ST. PAUL, Minn. (AP) — Gov. Tim Walz has signed his first bill of the two-week-old 2024 legislative session. It’s a correction to last year’s main tax bill that could have cost Minnesota taxpayers around $350 million next year if it hadn’t been fixed. The governor signed the bill Monday with little fanfare. Last year’s bill inadvertently used the standard deduction amount from 2019 as the starting point for 2024 state personal income taxes, instead of the proper inflation-adjusted amounts. The bill signed Monday passed both chambers last week with almost unanimous bipartisan support.