SF 4302
Introduction - 94th Legislature (2025 - 2026)
Posted on 03/10/2026 09:52 a.m.
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A bill for an act
relating to state finances; conforming the budget reserve limit to the existing amount
in the budget reserve account; amending Minnesota Statutes 2024, section 16A.152,
subdivision 2.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
Section 1.
Minnesota Statutes 2024, section 16A.152, subdivision 2, is amended to read:
Subd. 2.
Additional revenues; priority.
(a) If on the basis of a forecast of general fund
revenues and expenditures, the commissioner of management and budget determines that
there will be a positive unrestricted budgetary general fund balance at the close of the
biennium, the commissioner of management and budget must allocate money to the following
accounts and purposes in priority order:
(1) the cash flow account established in subdivision 1 until that account reaches
$350,000,000;
(2) the budget reserve account established in subdivision 1a until that account reaches
deleted text begin $2,852,098,000deleted text end new text begin $3,421,764,000new text end ;
(3) the amount necessary to increase the aid payment schedule for school district aids
and credits payments in section 127A.45 to not more than 90 percent rounded to the nearest
tenth of a percent without exceeding the amount available and with any remaining funds
deposited in the budget reserve; and
(4) the amount necessary to restore all or a portion of the net aid reductions under section
127A.441 and to reduce the property tax revenue recognition shift under section 123B.75,
subdivision 5, by the same amount.
(b) The amounts necessary to meet the requirements of this section are appropriated
from the general fund within two weeks after the forecast is released or, in the case of
transfers under paragraph (a), clauses (3) and (4), as necessary to meet the appropriations
schedules otherwise established in statute.
(c) The commissioner of management and budget shall certify the total dollar amount
of the reductions under paragraph (a), clauses (3) and (4), to the commissioner of education.
The commissioner of education shall increase the aid payment percentage and reduce the
property tax shift percentage by these amounts and apply those reductions to the current
fiscal year and thereafter.
new text begin EFFECTIVE DATE. new text end
new text begin
This section is effective the day following final enactment.
new text end