MN SF46

Removes the prohibition on including an allowance for inflation in state expenditure estimates within the forecast.

Requires the commissioner to determine and apply the rate of inflation when calculating expenditure forecasts, along with state bonding impacts on debt service and investment income calculations.

Mandates the commissioner consult with senate State Government Finance Committee and house Ways and Means Committee chairs, lead minority members, and legislative fiscal staff at least three weeks before releasing the forecast.

Requires the commissioner to inform legislative leadership of any changes in inflation rate, bonding, investment income, or other variables from the previous forecast no later than two weeks before release.