MN HF3584

Amends Minnesota Statutes section 16A.86, subdivision 3a to add debt capacity reporting requirements for political subdivisions requesting state capital project assistance.

Requires political subdivisions to report their debt capacity, calculated as the difference between maximum allowable net debt under chapter 475 or applicable law and debt already incurred as of the submission date.

Adds debt capacity as a new required information element (item 8) in capital budget assistance requests, joining existing requirements for project ownership, public purpose, local funding, bondable activities, operating subsidies, governing body resolution, and predesign status.

Becomes effective the day following final enactment.