MN SF46

Increases the budget reserve account target from $1,596,522,000 to $2,377,399,000 when allocating positive unrestricted general fund balances.

Maintains the prioritized allocation sequence for positive budgetary balances: cash flow account ($350,000,000), then budget reserve account, then school district aid payment schedules, then restoration of net aid reductions and property tax shifts.

Requires the Commissioner of Management and Budget to allocate additional revenues according to the priority order within two weeks after a forecast is released.

Directs the Commissioner of Management and Budget to certify dollar amounts of aid reductions and property tax shifts to the Commissioner of Education for implementation in the current fiscal year and thereafter.

Allows the Minnesota 21st century fund to receive transfers up to a maximum total of $20,000,000 from amounts credited and canceled under previous law.