MN HF2831

Removes the prohibition against including an allowance for inflation in expenditure estimates within state forecasts.

Requires the rate of inflation to be determined and applied in the expenditure part of state forecasts, along with state bonding debt service, investment income, and other forecast variables.

Mandates the commissioner consult with chairs and lead minority members of the senate State Government Finance Committee and house Ways and Means Committee, plus legislative fiscal staff, at least three weeks before releasing the forecast.

Requires the commissioner to inform legislative leadership and fiscal staff no later than two weeks before forecast release of any changes in inflation rates and other variables from the previous forecast.