MN SF3343

Amends Minnesota Statutes section 16A.105 to establish a debt limit based on debt service payments as a percentage of general fund revenue.

Requires the State Commissioner to determine the debt limit so that payment due on all outstanding debt does not exceed 3.35 percent of nondedicated general fund revenue during the same fiscal year.

Defines "debt" to include state general obligation bonds, appropriation bonds, agency appropriation bonds payable from statutory general fund appropriations, state certificates of participation, and state lease-purchase financing for real estate or equipment.

Mandates that the debt limit be included in the debt capacity forecast prepared in February and November of each year and delivered to the governor and legislature.

Applies to the sale and issuance of state debt on or after July 1, 2017.