MN SF717

Amends Minnesota Statutes section 16A.152 to establish a priority allocation process for positive general fund balances, prioritizing cash flow account ($350 million), budget reserve account ($1.596 billion), school district aid payments (up to 90%), aid reductions restoration, and clean water fund ($22 million).

Adds the Minnesota 21st century fund as a priority allocation destination, allowing transfers of up to $5 million minus amounts credited or canceled in the previous 12 months, with total transfers capped at $20 million.

Modifies Laws 2020, chapter 71, section 11 to redirect loan repayments and canceled funds from the small business emergency loan program proportionately back to the Minnesota 21st century fund and general fund once the $20 million total is reached.

Requires the commissioner of management and budget to transfer $10,219,000 from the general fund to the Minnesota 21st century fund by June 30, 2021, as a one-time transfer.

All provisions are effective the day following final enactment.