MN HF3278

Expands energy forward pricing mechanism authority from state agencies to all government agencies, including cities, counties, towns, school districts, and political subdivisions.

Adds unleaded fuel to the definition of energy and includes options to buy or sell forward pricing contracts as eligible instruments.

Increases the maximum contract period for forward pricing mechanisms from 24 months to 48 months from the trade date.

Requires government agencies using forward pricing mechanisms to establish written policies, procedures, and an oversight process that includes internal or external audits, annual investment committee reviews, and internal management controls.

Repeals existing forward pricing statutes (Minnesota Statutes sections 383B.1588 and 473.1293) effective July 1, 2014, consolidating authority under the amended section 16C.143.