MN SF4092

Sets local government aid to cities at $564,398,012 for aids payable in 2021 and thereafter, increasing from $560,398,012 in 2020.

Beginning in 2022, adjusts aid annually by an inflation factor equal to one plus the percentage increase in the implicit price deflator for government purchases and the percentage increase in total city population.

Caps the inflation adjustment between a minimum of 1.025 (2.5% increase) and maximum of 1.05 (5% increase) in any given year.

Uses the 12-month period ending March 31 of the previous calendar year for inflation measurement and the most recently available population data as of January 15 for population increases.

Applies effective date of calendar year 2021 and thereafter for all provisions.