Bill > SF604

This bill amends Minnesota Statutes section 3.98, subdivision 2, which governs the requirements for fiscal notes prepared by the state legislature. Specifically, the bill adds a new requirement that fiscal notes must now include both a dynamic analysis and a static analysis. In fiscal policy, a static analysis typically estimates the direct financial impact of a proposed law without considering potential behavioral changes or broader economic effects, while a dynamic analysis attempts to account for potential changes in economic behavior that might result from the proposed legislation. This means that when legislators review fiscal notes for proposed bills, they will now receive two different perspectives on the potential financial impact: one that looks at the immediate, direct costs, and another that considers more complex, long-term economic implications. The bill maintains existing requirements for fiscal notes, such as citing dollar amounts, estimating revenue or expenditure changes, listing assumptions used in cost estimates, and specifying long-range implications, while also preserving the guideline that fiscal notes should focus on financial analysis and avoid expressing opinions about the merits of the proposed legislation.

Government Affairs

https://www.revisor.mn.gov/bills/bill.php?b=Senate&f=SF0604&ssn=0&y=2025