MN HF673

Requires chief authors of bills in both the House and Senate to prepare written public value impact statements if legislation would change public spending levels, impose financial obligations on local governments, or create regulatory burdens on the private sector.

Public value impact statement must explain why the chief author believes the proposed changes in spending, local government obligations, or regulatory burdens are cost-beneficial.

Statement must include expected outcomes of the bill and how performance will be measured or evaluated, plus anticipated costs and benefits to Minnesota's economy, effects on elderly persons, people with disabilities, and citizens in poverty, regulatory benefits and burdens, and justification for local government financial obligations.

Requires both the House and Senate to adopt rules specifying how public value impact statements will be considered by committees and maintained in official committee records.