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Office of the Revisor of Statutes

HF 2758

as introduced - 87th Legislature (2011 - 2012) Posted on 03/13/2012 09:34am

KEY: stricken = removed, old language.
underscored = added, new language.
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Bill Text Versions

Engrossments
Introduction Posted on 03/08/2012

Current Version - as introduced

Line numbers 1.1 1.2 1.3 1.4 1.5
1.6 1.7 1.8 1.9 1.10 1.11 1.12 1.13 1.14 1.15 1.16

A bill for an act
 relating to state government; establishing general fund spending limits for fiscal
years 2014 and 2015 that freezes state spending at fiscal years 2012 and 2013
spending levels.

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

Section 1. new text begin FISCAL YEARS 2014 AND 2015 GENERAL FUND SPENDING
LIMITS.
new text end

new text begin Subdivision 1. new text end

new text begin Spending limits. new text end

new text begin The maximum limit on general fund spending in
fiscal years 2014 and 2015 is $33,761,000,000.
 new text end

new text begin This limit may be increased by: (1) any spending to increase the education aids
payment schedule under Minnesota Statutes, section 127A.45, to not more than 90
percent; and (2) any spending to restore all or a portion of the aid reductions under
Minnesota Statutes, section 127A.441, and to reduce the property tax revenue recognition
shift under Minnesota Statutes, section 123B.75, subdivision 5, by the same amount.
 new text end

new text begin Subd. 2. new text end

new text begin Budget reserve. new text end

new text begin The budget reserve is set at $657,618,000.
 new text end

new text begin Subd. 3. new text end

new text begin Cash flow account. new text end

new text begin The cash flow account is set at $350,000,000.
 new text end