as introduced - 94th Legislature (2025 - 2026) Posted on 04/10/2025 02:29pm
Engrossments | ||
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Introduction | Posted on 04/10/2025 |
A bill for an act
relating to capital investment; requiring a bonding bill forecast to be prepared and
delivered to the governor and legislature; amending Minnesota Statutes 2024,
section 16A.105.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
Minnesota Statutes 2024, section 16A.105, is amended to read:
In February and November of each year the
commissioner shall prepare a debt capacity forecast to be delivered to the governor and
legislature according to section 16A.103, subdivision 1. The debt capacity forecast must
include statements of the indebtedness of the state for bonds, notes, and other forms of
long-term general obligation indebtedness. The forecast must show the actual amount of
the debt service for at least the past two completed fiscal years, and the estimated amount
for the current fiscal year and the next six fiscal years, the debt authorized and unissued,
and the borrowing capacity for the next six fiscal years.
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The commissioner must prepare a state general obligation
bonding bill forecast to be delivered to the governor and legislature according to section
16A.103, subdivision 1, that specifies the maximum amount of state general obligation
bonds that could be issued and sold on or before the following November 1 to maintain a
debt service amount paid by the general fund that does not exceed 2.5 percent of total
nondedicated general fund revenues.
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This section is effective the day following final enactment.
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