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Capital IconMinnesota Legislature

HF 3105

as introduced - 86th Legislature (2009 - 2010) Posted on 02/22/2010 11:28am

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

Bill Text Versions

Introduction Posted on 02/22/2010

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 1.17 1.18 1.19 1.20 1.21 1.22 1.23 2.1 2.2 2.3 2.4

A bill for an act
relating to capital investment; requiring information to determine return on
investment for capital requests.


Section 1. new text begin RETURN ON INVESTMENT ANALYSIS.
new text end

new text begin The commissioner of Minnesota Management and Budget and the state economist,
with the approval of the governor, in conjunction with the committees of the legislature
responsible for capital investment, shall develop before July 1, 2011, a return on
investment analysis format to be required of all requests for appropriations from the state
bond fund after June 30, 2011. The return on investment analysis format shall require at
least the following elements for each request:
new text end

new text begin (1) a comprehensive description of the statewide value of the project, including: (i)
both subjective and objective benefits, (ii) measurable outcomes over a ten-year period, and
(iii) the process by which the planned and actual benefits and measurable outcomes will be
reported annually to the state and the public for ten years following the appropriation;
new text end

new text begin (2) a ten-year total cost of ownership for all costs related to acquisition, construction,
maintenance, and ongoing operations of a project including all related costs for staffing,
administration, promotion, support services, and outside funding sources;
new text end

new text begin (3) a ten-year total revenue projection including detailed models of usage, per-unit
revenues, and unit volumes by year, including a low, expected, and high projection of
new text end

new text begin (4) the projected ten-year total net financial surplus or loss for the project;
new text end

new text begin (5) an optional schedule for payback of the bonding cost to the state; and
new text end

new text begin (6) the net jobs impact to the state including: (i) a ten-year schedule of jobs created
by the project and (ii) a ten-year schedule showing the opportunity cost of jobs not
otherwise created in the broader economy due to the capital consumed by the bonding
amount not being available in other areas of the economy.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective the day after final enactment.
new text end