| 1 | 1 | | 1.1 A bill for an act |
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| 2 | 2 | | 1.2 relating to state government; eliminating requirement for state forecast to account |
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| 3 | 3 | | 1.3 for the rate of inflation; amending Minnesota Statutes 2024, section 16A.103, |
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| 4 | 4 | | 1.4 subdivisions 1a, 1b. |
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| 5 | 5 | | 1.5BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: |
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| 6 | 6 | | 1.6 Section 1. Minnesota Statutes 2024, section 16A.103, subdivision 1a, is amended to read: |
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| 7 | 7 | | 1.7 Subd. 1a.Forecast parameters.The forecast must assume the continuation of current |
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| 8 | 8 | | 1.8laws and reasonable estimates of projected growth in the national and state economies and |
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| 9 | 9 | | 1.9affected populations. Revenue must be estimated for all sources provided for in current law. |
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| 10 | 10 | | 1.10Expenditures must be estimated for all obligations imposed by law and those projected to |
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| 11 | 11 | | 1.11occur as a result of inflation and variables outside the control of the legislature. Expenditure |
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| 12 | 12 | | 1.12estimates must not include an allowance for inflation. |
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| 13 | 13 | | 1.13 EFFECTIVE DATE.This section is effective the day following final enactment. |
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| 14 | 14 | | 1.14 Sec. 2. Minnesota Statutes 2024, section 16A.103, subdivision 1b, is amended to read: |
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| 15 | 15 | | 1.15 Subd. 1b.Forecast variable.In determining the rate of inflation, the application of |
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| 16 | 16 | | 1.16inflation, the amount of state bonding as it affects debt service, the calculation of investment |
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| 17 | 17 | | 1.17income, and the other variables to be included in the expenditure part of the forecast, the |
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| 18 | 18 | | 1.18commissioner must consult with the chairs and lead minority members of the senate Finance |
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| 19 | 19 | | 1.19Committee and the house of representatives Ways and Means Committee, and legislative |
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| 20 | 20 | | 1.20fiscal staff. This consultation must occur at least three weeks before the forecast is to be |
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| 21 | 21 | | 1.21released. No later than two weeks prior to the release of the forecast, the commissioner must |
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| 22 | 22 | | 1.22inform the chairs and lead minority members of the senate Finance Committee and the |
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| 23 | 23 | | 1Sec. 2. |
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| 24 | 24 | | REVISOR SGS/LJ 25-0447603/10/25 |
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| 25 | 25 | | State of Minnesota |
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| 26 | 26 | | This Document can be made available |
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| 27 | 27 | | in alternative formats upon request |
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| 28 | 28 | | HOUSE OF REPRESENTATIVES |
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| 29 | 29 | | H. F. No. 2790 |
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| 30 | 30 | | NINETY-FOURTH SESSION |
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| 31 | 31 | | Authored by Robbins03/26/2025 |
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| 32 | 32 | | The bill was read for the first time and referred to the Committee on State Government Finance and Policy 2.1house of representatives Ways and Means Committee, and legislative fiscal staff of any |
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| 33 | 33 | | 2.2changes in these variables from the previous forecast. |
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| 34 | 34 | | 2.3 EFFECTIVE DATE.This section is effective the day following final enactment. |
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| 35 | 35 | | 2Sec. 2. |
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| 36 | 36 | | REVISOR SGS/LJ 25-0447603/10/25 |
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