MN SF3407

Establishes a stadium payoff fund in the state treasury and requires the commissioner of management and budget to transfer surplus amounts from the general reserve account to this fund by October 1 each year.

Transfers to the stadium payoff fund occur when the general reserve account exceeds the greater of stadium-related expenses or $40,000,000, with the surplus amount equal to the difference between the general reserve account balance and that threshold.

Directs the commissioner to use stadium payoff fund money to redeem or defease outstanding stadium appropriation bonds under section 16A.965 after the bonds become callable.

Requires the commissioner to notify the legislature's Finance and Taxes committees at least 15 days before increasing available revenues from income taxes by up to $20,000,000 annually to cover stadium-related shortfalls.

Mandates annual reporting to the legislature by October 15 analyzing stadium payoff fund usage, projected balance transfers, and the timeline for redeeming or defeasing outstanding stadium appropriation bonds.