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Bill > HF2790


MN HF2790

MN HF2790
Requirement for state forecast to account for rate of inflation eliminated.


summary

Introduced
03/26/2025
In Committee
03/26/2025
Crossed Over
Passed
Dead

Introduced Session

94th Legislature 2025-2026

Bill Summary

A bill for an act relating to state government; eliminating requirement for state forecast to account for the rate of inflation; amending Minnesota Statutes 2024, section 16A.103, subdivisions 1a, 1b.

AI Summary

This bill eliminates the requirement for state budget forecasts to account for the rate of inflation when estimating expenditures. Specifically, the bill amends Minnesota Statutes to remove references to inflation in the state's budget forecasting process. Under the new provisions, when the state commissioner prepares financial forecasts, they must no longer include an allowance for inflation when estimating expenditures. The bill also modifies consultation requirements for the commissioner, removing specific language about discussing inflation rates with legislative committee chairs and staff. The changes aim to adjust how the state approaches budget projections by excluding inflationary factors from expenditure estimates. The bill will take effect the day following its final enactment, meaning the new forecasting guidelines will be implemented immediately after the bill becomes law.

Committee Categories

Government Affairs

Sponsors (1)

Last Action

Introduction and first reading, referred to State Government Finance and Policy (on 03/26/2025)

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