Skip to main content Skip to office menu Skip to footer
Capital IconMinnesota Legislature
Office of the Revisor of Statutes

SF 2054

1st Engrossment - 85th Legislature (2007 - 2008) Posted on 12/15/2009 12:00am

KEY: stricken = removed, old language.
underscored = added, new language.
Version List Authors and Status
Rtf

Current Version - 1st Engrossment

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 1.17 1.18

A bill for an act
 relating to state government; regulating the state budget reserve; amending
Minnesota Statutes 2006, section 16A.152, subdivisions 1a, 1b.

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

Section 1.

Minnesota Statutes 2006, section 16A.152, subdivision 1a, is amended to
read:


Subd. 1a.

Budget reserve.

A budget reserve account is created in the general fund
in the state treasury. The commissioner of finance shall transfer to the budget reserve
account on July 1 of each odd-numbered year any amounts specifically appropriated by
law to the budget reserve.new text begin Notwithstanding section 11A.12, net income attributable to
investment of $629,000,000 in the account, rounded to the nearest $1,000,000, must be
credited to the account.
new text end

Sec. 2.

Minnesota Statutes 2006, section 16A.152, subdivision 1b, is amended to read:


Subd. 1b.

Budget reserve increase.

On July 1, deleted text begin 2003deleted text end new text begin 2007new text end , the commissioner of
finance shall transfer deleted text begin $300,000,000deleted text end new text begin $629,000,000new text end to the budget reserve account in the
general fund. deleted text begin On July 1, 2004, the commissioner of finance shall transfer $296,000,000 to
the budget reserve account in the general fund.deleted text end The deleted text begin amountsdeleted text end new text begin amountnew text end necessary for this
purpose deleted text begin aredeleted text end new text begin isnew text end appropriated from the general fund.