1.1 	A bill for an act
1.2 	relating to state government; regulating the state budget reserve; amending 
1.3 	Minnesota Statutes 2006, section 16A.152, subdivisions 1a, 1b.
1.4 	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

1.5 	Section 1. Minnesota Statutes 2006, section 16A.152, subdivision 1a, is amended to 
1.6 	read:
1.7 		Subd. 1a.Budget reserve. A budget reserve account is created in the general fund 
1.8 	in the state treasury. The commissioner of finance shall transfer to the budget reserve 
1.9 	account on July 1 of each odd-numbered year any amounts specifically appropriated by 
1.10 	law to the budget reserve. Notwithstanding section 11A.12, net income attributable to 
1.11 	investment of $629,000,000 in the account, rounded to the nearest $1,000,000, must be 
1.12 	credited to the account.

1.13 	Sec. 2. Minnesota Statutes 2006, section 16A.152, subdivision 1b, is amended to read:
1.14 		Subd. 1b.Budget reserve increase. On July 1, 2003 2007, the commissioner of 
1.15 	finance shall transfer $300,000,000 $629,000,000 to the budget reserve account in the 
1.16 	general fund. On July 1, 2004, the commissioner of finance shall transfer $296,000,000 to 
1.17 	the budget reserve account in the general fund. The amounts amount necessary for this 
1.18 	purpose are is appropriated from the general fund.