Minnesota Legislature
HF 1534
as introduced - 86th Legislature (2009 - 2010) Posted on 02/09/2010 01:52am
Bill Text Versions
| Engrossments | ||
|---|---|---|
| Introduction | Posted on 03/09/2009 |
Current Version - as introduced
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2.1
A bill for an act
relating to state government; providing conditions relating to acceptance and
expenditure of federal stimulus funds.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
Section 1. new text begin FEDERAL STIMULUS FUNDS.
new text end
new text begin Subdivision 1. new text end
new text begin Title. new text end
new text begin
This act shall be known as the "State Bailout Control Act."
new text end
new text begin Subd. 2. new text end
new text begin Not to be obligated until federal money is received. new text end
new text begin
A state agency may
not make spending commitments or enter into obligations anticipated to be paid for with
funds to be received under the federal American Recovery and Reinvestment Act of
2009 until the state has received the federal funds necessary to meet the commitments
or obligations, the funds have been appropriated to the agency, and the agency has
complied with any other legal requirements necessary to obligate or spend the funds.
Money may not be transferred from any fund in the state treasury to provide cash flow
to any agency in anticipation of receipt of funds under the federal American Recovery
and Reinvestment Act of 2009.
new text end
new text begin Subd. 3. new text end
new text begin No ongoing obligations. new text end
new text begin
Minnesota may not accept any portion of the
funds available under the federal American Recovery and Reinvestment Act of 2009 that
create an ongoing obligation for state, county, or local programs or expenditures after the
expenditure of the funds received under the act.
new text end
new text begin Subd. 4. new text end
new text begin Replenishment of budget reserve. new text end
new text begin
By June 30, 2011, there must be
deposited in the budget reserve account an amount sufficient to make the total amount in
the account equal to 33 percent of the amount of money received by the state under the
federal American Recovery and Reinvestment Act of 2009.
new text end
new text begin EFFECTIVE DATE. new text end
new text begin
This section is effective the day following final enactment.
new text end