as introduced - 87th Legislature (2011 - 2012) Posted on 03/13/2012 09:34am
A bill for an act
relating to state government; establishing general fund spending limits for fiscal
years 2014 and 2015 that freezes state spending at fiscal years 2012 and 2013
spending levels.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
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The maximum limit on general fund spending in
fiscal years 2014 and 2015 is $33,761,000,000.
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This limit may be increased by: (1) any spending to increase the education aids
payment schedule under Minnesota Statutes, section 127A.45, to not more than 90
percent; and (2) any spending to restore all or a portion of the aid reductions under
Minnesota Statutes, section 127A.441, and to reduce the property tax revenue recognition
shift under Minnesota Statutes, section 123B.75, subdivision 5, by the same amount.
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The budget reserve is set at $657,618,000.
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The cash flow account is set at $350,000,000.
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