1997 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 
 and deliver to the governor and legislature a forecast of state 
 revenue and expenditures.  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, 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.    Separate estimates of fee revenues.  In 
 preparing the November estimates under subdivision 1, the 
 commissioner shall separately report the amount of departmental 
 earnings as defined in section 16A.1285.  In preparing the 
 estimates under subdivision 2, the commissioner of revenue shall 
 separately estimate local government revenues similar to 
 departmental earnings as defined in section 16A.1285. 

    HIST: 1994 c 587 art 7 s 2; 1997 c 202 art 2 s 13