MN SF1835

Amends Minnesota Statutes 2020, section 16A.152, subdivision 2, to establish a prioritized allocation system for positive general fund balances at the end of the biennium.

Requires the Commissioner of Management and Budget to allocate surplus funds in the following priority order: cash flow account ($350 million cap), budget reserve account ($1.596 billion cap), school district aid payment schedule increases (up to 90 percent), and net aid reduction restoration.

Removes the clean water fund ($22 million transfer) from the allocation priorities, renumbering the Minnesota 21st Century Fund as the new final priority with a $20 million cumulative transfer cap.

Requires the Commissioner of Management and Budget to certify dollar amounts of school aid and property tax shift adjustments to the Commissioner of Education for implementation in the current fiscal year and thereafter.

Appropriates necessary funds from the general fund within two weeks after budget forecasts are released.