Office of the Revisor of Statutes
SF 2851
Introduction - 94th Legislature (2025 - 2026)
Posted on 06/11/2025 09:43 a.m.
1.5 1.6 1.7 1.8 1.9 1.10 1.11 1.12 1.13 1.14 1.15 1.16 1.17 1.18 1.19 1.20 1.21 1.22
A bill for an act
relating to state government; changing the date of the report on the budget reserve
percentage; amending Minnesota Statutes 2024, section 16A.152, subdivision 8.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
Section 1.
Minnesota Statutes 2024, section 16A.152, subdivision 8, is amended to read:
Subd. 8.
Report on budget reserve percentage.
(a) The commissioner of management
and budget shall develop and annually review a methodology for evaluating the adequacy
of the budget reserve based on the volatility of Minnesota's general fund tax structure. The
review must take into consideration relevant statistical and economic literature. After
completing the review, the commissioner may revise the methodology if necessary. The
commissioner must use the methodology to annually estimate the percentage of the current
biennium's general fund nondedicated revenues recommended as a budget reserve.
(b) By deleted text begin Septemberdeleted text end new text begin Octobernew text end 30 of each year, the commissioner shall report the percentage
of the current biennium's general fund nondedicated revenue that is recommended as a
budget reserve to the chairs and ranking minority members of the senate Committee on
Finance, the house of representatives Committee on Ways and Means, and the senate and
house of representatives Committees on Taxes. The report must also specify:
(1) whether the commissioner revised the recommendation as a result of significant
changes in the mix of general fund taxes or the base of one or more general fund taxes;
(2) whether the commissioner revised the recommendation as a result of a revision to
the methodology; and
(3) any additional appropriate information.