1999 Minnesota Statutes

     16A.103 Forecasts of revenue and expenditures. 

    Subdivision 1.    State revenue and expenditures.  In 
 February and November each year, the commissioner shall prepare 
 a forecast of state revenue and expenditures.  The November 
 forecast must be delivered to the legislature and governor no 
 later than the end of the first week of December.  The February 
 forecast must be delivered to the legislature and governor by 
 the end of February.  Forecasts must be delivered to the 
 legislature and governor on the same day.  If requested by the 
 legislative commission on planning and fiscal policy, delivery 
 to the legislature must include a presentation to the 
 commission.  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 inflation and 
 variables outside the control of the legislature.  In 
 determining the rate of inflation, the application of inflation, 
 the amount of state bonding as it affects debt service, and the 
 other variables to be included in the expenditure part of the 
 forecast, the commissioner must consult with the chair of the 
 senate state government finance committee, the chair of the 
 house committee on ways and means, and house and senate fiscal 
 staff.  In addition, the commissioner shall forecast Minnesota 
 personal income for each of the years covered by the forecast 
 and include these estimates in the forecast documents.  A 
 forecast prepared during the first fiscal year of a biennium 
 must cover that biennium and the next biennium.  A forecast 
 prepared during the second fiscal year of a biennium must cover 
 that biennium and the next two bienniums. 

    Subd. 2.    Local revenue.  In February and November of 
 each year, the commissioner of revenue shall prepare and deliver 
 to the governor and the legislature forecasts of revenue to be 
 received by school districts as a group, counties as a group, 
 and the group of cities and towns that have a population of more 
 than 2,500.  The forecasts must assume the continuation of 
 current laws, projections of valuation changes in real property, 
 and reasonable estimates of projected growth in the national and 
 state economies and affected populations.  Revenue must be 
 estimated for property taxes, state and federal aids, local 
 sales taxes, if any, and a single projection for all other 
 revenue for each group of affected local governmental units.  As 
 part of the February forecast, the commissioner of revenue shall 
 report to the governor and legislature on which groups of local 
 government units exceeded the revenue targets of the governor 
 and legislature in the most recent biennium. 

    Subd. 3. Repealed, 1999 c 250 art 1 s 115 

    HIST: 1994 c 587 art 7 s 2; 1997 c 202 art 2 s 13; 1998 c 366 
 s 22; 1999 c 250 art 1 s 46