as introduced - 90th Legislature (2017 - 2018) Posted on 04/25/2018 10:46am
Version List Authors and Status
A bill for an act
relating to finance; deleting an obsolete transfer; amending Minnesota Statutes
2017 Supplement, section 16A.152, subdivision 2.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
Minnesota Statutes 2017 Supplement, section 16A.152, subdivision 2, is
amended to read:
(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
(2) the budget reserve account established in subdivision 1a until that account reaches
(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;new text beginnew text end
(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 amountdeleted text begin; anddeleted text end new text beginnew text end
deleted text begin
(5) the clean water fund established in section 114D.50 until $22,000,000 has been
transferred into the fund.
deleted 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.
(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.
(d) Paragraph (a), clause (5), expires after the entire amount of the transfer has been