MN HF3191

Requires state economic forecasts to include the rate of inflation as a variable in expenditure estimates.

Removes the prohibition against including an allowance for inflation in expenditure estimates under Minnesota Statutes section 16A.103, subdivision 1a.

Requires the commissioner to consult with legislative leadership and fiscal staff on determining the rate of inflation, application of inflation, debt service, investment income, and other forecast variables at least three weeks before forecast release.

Mandates the commissioner inform legislative committees and fiscal staff of any changes to forecast variables no later than two weeks prior to forecast release.