MN SF2250

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

Increases the budget reserve account target from $653,000,000 to $810,992,000 that must be prioritized when allocating positive unrestricted general fund balances.

Limits budget reserve transfers to no more than 33 percent of the positive unrestricted general fund balance in any forecast.

Requires the Commissioner of Management and Budget to annually develop, review, and report on a methodology for evaluating budget reserve adequacy based on volatility of Minnesota's general fund tax structure, with reports due by January 15 each year.

Authorizes a one-time transfer of $150,000,000 to the budget reserve account on July 1, 2014.