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Minnesota Legislature

Office of the Revisor of Statutes

SF 1273

1st Engrossment - 91st Legislature (2019 - 2020) Posted on 03/21/2019 03:08pm

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

Current Version - 1st Engrossment

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A bill for an act
relating to state government; appropriating money based on general fund forecast
to compensate permanent school fund for certain lands;amending Minnesota
Statutes 2018, section 16A.152, subdivisions 1b, 2.

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

Section 1.

Minnesota Statutes 2018, section 16A.152, subdivision 1b, is amended to read:


Subd. 1b.

Budget reserve level.

(a) The commissioner of management and budget shall
calculate the budget reserve level by multiplying the current biennium's general fund
nondedicated revenues and the most recent budget reserve percentage under subdivision 8.

(b) If, on the basis of a November forecast of general fund revenues and expenditures,
the commissioner of management and budget determines that there will be a positive
unrestricted general fund balance at the close of the biennium and that the provisions of
subdivision 2, paragraph (a)deleted text begin, clauses (1), (2), (3), and (4)deleted text end, are satisfied, the commissioner
shall transfer to the budget reserve account in the general fund the amount necessary to
increase the budget reserve to the budget reserve level determined under paragraph (a). The
amount of the transfer authorized in this paragraph shall not exceed 33 percent of the positive
unrestricted general fund balance determined in the forecast.

Sec. 2.

Minnesota Statutes 2018, 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 $1,596,522,000deleted text endnew text begin $2,074,733,000new 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;

(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; and

(5) deleted text beginthe clean water fund established in section deleted text begin114D.50deleted text end until $22,000,000 has been
transferred into the fund.
deleted text end

new text begin $100,000,000 to compensate the school trust lands account established in section 92.83,
as required by section 84.027, subdivision 18, paragraphs (b) and (c). If $100,000,000 is
not available to allocate, the commissioner must allocate the lesser amount available and
continue to allocate all available money until $100,000,000 has been transferred to the fund.
new text end

(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.new text begin The money allocated under paragraph (a), clause
(5), is appropriated from the general fund to the commissioner of natural resources within
two weeks after the forecast is released.
new text end

(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.

deleted text begin (d) Paragraph (a), clause (5), expires after the entire amount of the transfer has been
deleted text end deleted text begin made.
deleted text end