Bill > HF1956

This bill amends Minnesota Statutes to increase the threshold for municipal liquor stores required to submit audited financial statements to the state auditor from $350,000 in annual sales to $500,000. Under the proposed change, cities operating municipal liquor stores that have total annual sales exceeding $500,000 will be required to submit audited financial statements attested to by a certified public accountant (CPA) or the state auditor within 180 days after the close of their fiscal year. The state auditor retains the ability to extend the deadline if a city demonstrates an inability to comply. This modification effectively raises the bar for which municipal liquor stores must provide detailed financial documentation, potentially reducing administrative burden for smaller municipal liquor operations. The bill becomes effective the day after its final enactment, meaning the new $500,000 sales threshold will apply to municipal liquor stores' financial reporting going forward.

Government Affairs

https://www.revisor.mn.gov/bills/bill.php?b=House&f=HF1956&ssn=0&y=2025