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MN HF4339
Bill
Status
4/9/2018
Primary Sponsor
Jim Knoblach
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AI Summary
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Increases the budget reserve account cap from $1,596,522,000 to $1,608,364,000 for allocation of positive general fund balances.
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Establishes priority order for allocating additional general fund revenues: cash flow account ($350,000,000), budget reserve account, school district aid payment schedules (up to 90 percent), net aid reductions restoration, and clean water fund transfers ($22,000,000).
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Requires the commissioner of management and budget to allocate funds within two weeks after forecast release and certify reduction amounts to the commissioner of education.
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Directs the commissioner of education to increase aid payment percentages and reduce property tax shift percentages based on certified amounts, applying changes to current and future fiscal years.
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Eliminates the expiration clause for the clean water fund transfer provision after the entire $22,000,000 amount has been transferred.
Legislative Description
Budget reserve cap for purposes of allocating additional general fund revenue increased, and obsolete transfer and expiration clause eliminated.
Last Action
Introduction and first reading, referred to Ways and Means
4/9/2018