MN SF1112

Amends Minnesota Statutes 2016, section 16A.105 to establish debt capacity limits for state borrowing.

Requires the commissioner to prepare debt capacity forecasts in February and November each year, to be delivered to the governor and legislature.

Establishes a primary debt limit requiring that payment due on all outstanding debt not exceed 3.5 percent of estimated nondedicated general fund revenue.

Establishes a secondary debt limit of 0.625 percent of estimated nondedicated general fund revenue for specific debt types including appropriation bonds, certificates of participation, and lease-purchase financing.

Allows debt limits to delay issuance of newly authorized debt but do not require delay or reduction of previously authorized debt or cancellation of prior appropriations.