MN SF1671

Requires chief authors in both the House and Senate to write a public value impact statement for bills that would change public spending levels, create financial obligations on local governments, or impose regulatory burdens on the private sector.

Exempts omnibus finance or revenue bills and bills introduced at the governor's or executive branch agency's request from the public value impact statement requirement.

Public value impact statements must include expected outcomes with measurable evaluation methods, plus analysis of economic effects, impacts on elderly persons and those with disabilities or living in poverty, regulatory benefits and burdens, and justification for any new local government financial obligations.

Statements must be prepared and made available to the Senate before the bill's first Senate committee hearing and to the House before the bill's first House committee hearing.

Both chambers must adopt rules for how committees will consider public value impact statements, which must be maintained with official committee records.