HF 2392

as introduced - 89th Legislature (2015 - 2016) Posted on 03/15/2016 08:43am

A bill for an act
relating to state government; increasing the budget reserve to the level
recommended by the commissioner of management and budget.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1. new text begin BUDGET RESERVE INCREASE.
new text end

new text begin On July 1, 2016, the commissioner of management and budget shall transfer a sum
sufficient to the budget reserve in the general fund so that the budget reserve balance is
equal to 4.8 percent of total nondedicated general fund revenue for fiscal years 2016 and
2017. The transfer amount is estimated to be $435,000,000.
new text end