1.1 A bill for an act
1.2 relating to capital investment; requiring a bonding bill forecast to be prepared and
1.3 delivered to the governor and legislature; amending Minnesota Statutes 2024,
1.4 section 16A.105.
1.5BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.6 Section 1. Minnesota Statutes 2024, section 16A.105, is amended to read:
1.7 16A.105 DEBT CAPACITY AND BONDING BILL FORECAST.
1.8 Subdivision 1.Debt capacity forecast.In February and November of each year the
1.9commissioner shall prepare a debt capacity forecast to be delivered to the governor and
1.10legislature according to section 16A.103, subdivision 1. The debt capacity forecast must
1.11include statements of the indebtedness of the state for bonds, notes, and other forms of
1.12long-term general obligation indebtedness. The forecast must show the actual amount of
1.13the debt service for at least the past two completed fiscal years, and the estimated amount
1.14for the current fiscal year and the next six fiscal years, the debt authorized and unissued,
1.15and the borrowing capacity for the next six fiscal years.
1.16 Subd. 2.Bonding bill forecast.The commissioner must prepare a state general obligation
1.17bonding bill forecast to be delivered to the governor and legislature according to section
1.1816A.103, subdivision 1, that specifies the maximum amount of state general obligation
1.19bonds that could be issued and sold on or before the following November 1 to maintain a
1.20debt service amount paid by the general fund that does not exceed 2.5 percent of total
1.21nondedicated general fund revenues.
1.22 EFFECTIVE DATE.This section is effective the day following final enactment.
1Section 1.
REVISOR JSK/EN 25-0540004/03/25
State of Minnesota
This Document can be made available
in alternative formats upon request
HOUSE OF REPRESENTATIVES
H. F. No. 3177
NINETY-FOURTH SESSION
Authored by Lee, F.,04/10/2025
The bill was read for the first time and referred to the Committee on Capital Investment