MN HF3170

Establishes a new policy for calculating the budget reserve level by multiplying the current biennium's general fund nondedicated revenues by a percentage determined under subdivision 8.

Increases the budget reserve account target from $653,000,000 to $1,923,000,000 when allocating positive unrestricted general fund balance.

Authorizes the commissioner of management and budget to transfer funds to the budget reserve to reach the calculated reserve level, provided a positive general fund balance exists and specified conditions are met.

Requires a one-time transfer of $1,262,008,000 to the budget reserve on July 1, 2014.

Changes the budget reserve percentage formula to be based on current biennium nondedicated revenues rather than preceding biennium expenditures and transfers.