HF 2412

Introduction - 83rd Legislature (2003 - 2004)

Posted on 12/15/2009 12:00 a.m.

  1.1                          A bill for an act 
  1.2             relating to state finance; requiring a separate 
  1.3             estimate of the cost of applying inflation to 
  1.4             expenditures in a forecast; amending Minnesota 
  1.5             Statutes 2002, section 16A.103, subdivision 1a. 
  1.6   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.7      Section 1.  Minnesota Statutes 2002, section 16A.103, 
  1.8   subdivision 1a, is amended to read: 
  1.9      Subd. 1a.  [FORECAST PARAMETERS.] The forecast must assume 
  1.10  the continuation of current laws and reasonable estimates of 
  1.11  projected growth in the national and state economies and 
  1.12  affected populations.  Revenue must be estimated for all sources 
  1.13  provided for in current law.  Expenditures must be estimated for 
  1.14  all obligations imposed by law and those projected to occur as a 
  1.15  result of variables outside the control of the legislature.  
  1.16  Expenditure estimates must not include an allowance for 
  1.17  inflation, but the forecast must include a separate estimate of 
  1.18  the cost of applying inflation to expenditures.