Bill > SF2851

This bill modifies the reporting deadline for the budget reserve percentage from September 30 to October 30 each year. Currently, the commissioner of management and budget is required to develop and annually review a methodology for evaluating the adequacy of the budget reserve, taking into account the volatility of Minnesota's general fund tax structure. The annual report, which goes to key legislative committee chairs and ranking minority members, must detail the recommended percentage of the current biennium's general fund nondedicated revenues to be held in reserve. The report must also explain any methodology revisions, changes in tax mix or tax base that might have influenced the recommendation, and provide any additional relevant information. By shifting the reporting deadline from September to October, the bill gives the commissioner slightly more time to complete the comprehensive analysis and prepare the required report.

Government Affairs

https://www.revisor.mn.gov/bills/bill.php?b=Senate&f=SF2851&ssn=0&y=2025