MN SF528

Establishes a new budget committee composed of the Commissioner of Revenue (chair), Commissioner of Management and Budget, two House members (appointed by Speaker and Minority Leader), and two Senate members (appointed by Majority and Minority Leaders)

Requires the budget committee to hold public hearings with state agencies, prepare budget forecasts and itemized reports showing recommended operating and construction budgets for each agency, and publish all reviewed documents online for public review

Transfers revenue and expenditure forecasting responsibility from the Commissioner of Management and Budget to the budget committee, with forecasts due in February and November each year

Requires agencies to file budget estimates and performance data with the budget committee by October 15 of each even-numbered year, with final materials sent to the budget committee and legislative committees by November 30

Mandates the budget committee receive monthly revenue updates, review economic forecasts at least two weeks before forecast release, and consult with legislative finance committees on bonding, investment income, and other forecast variables