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MN SF4247
Bill
Status
Introduced
2/26/2024
Primary Sponsor
Grant Hauschild
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AI Summary
- Increases city local government aid from $564,398,012 (2021-2023) to $644,398,012 (2024), then adjusts annually by inflation starting in 2025.
- Increases county program aid subdivision 3 from $118,795,000 (2021-2023) to $154,197,053 (2024), then to $151,197,053 (2025) with annual inflation adjustments thereafter.
- Increases county program aid subdivision 4 from $145,873,444 (2021-2023) to $190,471,391 (2024), then applies annual inflation adjustments starting in 2025.
- Establishes "inflation adjustment" formula using the greater of 2.5% or the combined rate of inflation and population change, capped at 5% maximum annually.
- Inflation adjustment calculated in January using the federal implicit price deflator for government spending (12-month period ending March 31) plus city population change rate.
Legislative Description
Local government aid and county program aid annual inflation and population adjustments to appropriations provisions
Last Action
Referred to Taxes
2/26/2024
Committee Referrals
Taxes2/26/2024
Full Bill Text
No bill text available