MN SF3129

Proposes an amendment to the Minnesota Constitution, Article XIII, requiring refund of any positive unrestricted general fund balance at the end of each biennium to taxpayers of the state.

Allows the state to set aside amounts from the surplus for maintaining a cash flow account for spending obligations or for maintaining or establishing a budget reserve before calculating the refund amount.

Specifies that the refund amount and the manner and timing of refunds must be determined by standards or methods provided by law.

Declares that amounts refunded to taxpayers shall not be considered income for state tax purposes or affect eligibility for public benefits.

Requires submission of the proposed amendment to voters at the 2024 general election with the ballot question: "Shall the Minnesota Constitution be amended to require the refund of a budget surplus to the taxpayers of the state?"