| Old | New | Differences | |
|---|---|---|---|
| 1 | 1 | 1.1 A bill for an act | |
| 2 | 2 | 1.2 relating to state government; requiring the state forecast include the rate of inflation; | |
| 3 | 3 | 1.3 amending Minnesota Statutes 2022, section 16A.103, subdivisions 1a, 1b. | |
| 4 | 4 | 1.4BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: | |
| 5 | 5 | 1.5 Section 1. Minnesota Statutes 2022, section 16A.103, subdivision 1a, is amended to read: | |
| 6 | 6 | 1.6 Subd. 1a.Forecast parameters.The forecast must assume the continuation of current | |
| 7 | 7 | 1.7laws and reasonable estimates of projected growth in the national and state economies and | |
| 8 | 8 | 1.8affected populations. Revenue must be estimated for all sources provided for in current law. | |
| 9 | 9 | 1.9Expenditures must be estimated for all obligations imposed by law and those projected to | |
| 10 | - | 1.10occur as a result of variables outside the control of the legislature. Expenditure | |
| 11 | - | 1. | |
| 10 | + | 1.10occur as a result of inflation and variables outside the control of the legislature. Expenditure | |
| 11 | + | 1.11estimates must not include an allowance for inflation. | |
| 12 | 12 | 1.12 Sec. 2. Minnesota Statutes 2022, section 16A.103, subdivision 1b, is amended to read: | |
| 13 | 13 | 1.13 Subd. 1b.Forecast variable.In determining the rate of inflation, the application of | |
| 14 | 14 | 1.14inflation, the amount of state bonding as it affects debt service, the calculation of investment | |
| 15 | 15 | 1.15income, and the other variables to be included in the expenditure part of the forecast, the | |
| 16 | 16 | 1.16commissioner must consult with the chairs and lead minority members of the senate State | |
| 17 | 17 | 1.17Government Finance Committee and the house of representatives Ways and Means | |
| 18 | 18 | 1.18Committee, and legislative fiscal staff. This consultation must occur at least three weeks | |
| 19 | 19 | 1.19before the forecast is to be released. No later than two weeks prior to the release of the | |
| 20 | 20 | 1.20forecast, the commissioner must inform the chairs and lead minority members of the senate | |
| 21 | 21 | 1.21State Government Finance Committee and the house of representatives Ways and Means | |
| 22 | 22 | 1Sec. 2. | |
| 23 | - | ||
| 23 | + | 23-00771 as introduced12/08/22 REVISOR SGS/NS | |
| 24 | 24 | SENATE | |
| 25 | 25 | STATE OF MINNESOTA | |
| 26 | 26 | S.F. No. 46NINETY-THIRD SESSION | |
| 27 | - | (SENATE AUTHORS: MARTY, Fateh, Rest | |
| 27 | + | (SENATE AUTHORS: MARTY, Fateh, Rest and Dziedzic) | |
| 28 | 28 | OFFICIAL STATUSD-PGDATE | |
| 29 | - | Introduction and first reading8201/05/2023 | |
| 30 | - | Referred to Finance | |
| 31 | - | Comm report: To pass as amended01/17/2023 | |
| 32 | - | Rule 12.10: report of votes in committee | |
| 33 | - | Second reading | |
| 34 | - | Author added Murphy 2.1Committee, and legislative fiscal staff of any changes in these variables from the previous | |
| 29 | + | Introduction and first reading01/05/2023 | |
| 30 | + | Referred to State and Local Government and Veterans 2.1Committee, and legislative fiscal staff of any changes in these variables from the previous | |
| 35 | 31 | 2.2forecast. | |
| 36 | 32 | 2Sec. 2. | |
| 37 | - | ||
| 33 | + | 23-00771 as introduced12/08/22 REVISOR SGS/NS |