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MN SF4431
Bill
Status
Introduced
4/4/2022
Primary Sponsor
Julie Rosen
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AI Summary
- Increases the state cash flow account cap from $350 million to $600 million and the budget reserve cap from approximately $2.38 billion to approximately $3.16 billion
- Requires the Commissioner of Management and Budget to increase the cash flow account by $250 million and the budget reserve by $500 million on July 1, 2022
- Adds a statutory definition of "transfer" as the authorization to move state money between funds, accounts, or agencies within the state treasury
- Requires the commissioner to prepare and publish a detailed general fund balance analysis by October 15 of each odd-numbered year, comparing it to the most recent publicly available analysis
- Repeals Minnesota Statutes section 16A.98 (Tobacco Securitization Bonds) and removes provisions related to the Minnesota 21st century fund and accelerated June liability sales tax payment reductions from surplus allocation priorities
Legislative Description
Budget reserve and cash flow account amounts adjustment
Last Action
Author added Nelson
4/6/2022
Committee Referrals
Finance4/4/2022
Full Bill Text
No bill text available