MN HF699

Establishes a debt limit capping total state debt payments at no more than 3% of estimated nondedicated general fund revenue

Sets a secondary limit of 0.6% of general fund revenue for non-general obligation debt types including appropriation bonds, certificates of participation, and lease-purchase financing

Defines covered debt as state general obligation bonds, appropriation bonds, agency appropriation bonds, certificates of participation, and lease-purchase financing payable from the general fund

Requires the commissioner to include debt limit calculations in the February and November debt capacity forecasts beginning after July 1, 2025

Debt limits can only delay issuance of newly authorized debt that would exceed the limits; previously authorized debt and appropriations are not affected