MN SF4848

Adds a new fifth priority for allocation of general fund surplus dollars: the disaster assistance contingency account established under section 12.221, subdivision 6, until that account reaches $50,000,000.

Modifies the priority order for allocating positive unrestricted general fund balances to include disaster assistance funding after school aid and property tax reduction allocations are completed.

Requires the commissioner of management and budget to allocate surplus funds to the disaster assistance contingency account within two weeks after a forecast is released.

Limits the transfer to the budget reserve account to no more than 33 percent of the positive unrestricted general fund balance determined in the November forecast.