Minnesota Legislature
HF 2790
as introduced - 94th Legislature (2025 - 2026) Posted on 03/26/2025 11:32am
Bill Text Versions
| Engrossments | ||
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| Introduction | Posted on 03/25/2025 |
Current Version - as introduced
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A bill for an act
relating to state government; eliminating requirement for state forecast to account
for the rate of inflation; amending Minnesota Statutes 2024, section 16A.103,
subdivisions 1a, 1b.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
Section 1.
Minnesota Statutes 2024, section 16A.103, subdivision 1a, is amended to read:
Subd. 1a.
Forecast parameters.
The forecast must assume the continuation of current
laws and reasonable estimates of projected growth in the national and state economies and
affected populations. Revenue must be estimated for all sources provided for in current law.
Expenditures must be estimated for all obligations imposed by law and those projected to
occur as a result of deleted text begin inflation anddeleted text end variables outside the control of the legislature.new text begin Expenditure
estimates must not include an allowance for inflation.
new text end
new text begin EFFECTIVE DATE. new text end
new text begin
This section is effective the day following final enactment.
new text end
Sec. 2.
Minnesota Statutes 2024, section 16A.103, subdivision 1b, is amended to read:
Subd. 1b.
Forecast variable.
In determining deleted text begin the rate of inflation, the application of
inflation,deleted text end the amount of state bonding as it affects debt service, the calculation of investment
income, and the other variables to be included in the expenditure part of the forecast, the
commissioner must consult with the chairs and lead minority members of the senate Finance
Committee and the house of representatives Ways and Means Committee, and legislative
fiscal staff. This consultation must occur at least three weeks before the forecast is to be
released. No later than two weeks prior to the release of the forecast, the commissioner must
inform the chairs and lead minority members of the senate Finance Committee and the
house of representatives Ways and Means Committee, and legislative fiscal staff of any
changes in these variables from the previous forecast.
new text begin EFFECTIVE DATE. new text end
new text begin
This section is effective the day following final enactment.
new text end