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MN HF4753
Bill
Status
Engrossed
4/15/2024
Primary Sponsor
Gene Pelowski
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AI Summary
- Allocates general fund surplus dollars to the disaster assistance contingency account as a priority use of surplus revenue, establishing a target balance of $50,000,000 for that account
- Adds the disaster assistance contingency account as the fifth priority in the allocation order when the state has a positive unrestricted general fund balance, after funding cash flow and budget reserve accounts and addressing school district aid payments
- Modifies Minnesota Statutes sections 16A.152, subdivision 1b and subdivision 2 to implement the new allocation priority
- Requires the Commissioner of Management and Budget to allocate surplus funds to the disaster assistance contingency account established under section 12.221, subdivision 6
- Maintains existing priorities for cash flow account ($350,000,000), budget reserve account ($2,852,098,000), school district aid payments, and property tax shift reductions before funding the disaster assistance account
Legislative Description
General fund surplus dollars required to be allocated to the disaster assistance contingency account.
Last Action
Referred to Finance
4/15/2024
Committee Referrals
Finance4/15/2024
Ways and Means3/21/2024
Public Safety Finance and Policy3/7/2024
Full Bill Text
No bill text available