1.1 	A bill for an act
1.2 	relating to the legislature; modifying information provided in fiscal notes and 
1.3 	revenue estimates; amending Minnesota Statutes 2010, sections 3.98, subdivision 
1.4 	2; 270C.11, subdivision 5.
1.5 	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

1.6 	Section 1. Minnesota Statutes 2010, section 3.98, subdivision 2, is amended to read:
1.7 		Subd. 2.Contents. (a) The fiscal note, where possible, shall:
1.8 	(1) cite the effect in dollar amounts;
1.9 	(2) cite the statutory provisions affected;
1.10 	(3) estimate the increase or decrease in revenues or expenditures;
1.11 	(4) include the costs which may be absorbed without additional funds;
1.12 	(5) include the assumptions used in determining the cost estimates; and
1.13 	(6) specify any long-range implication; and
1.14 	(7) include any private sector impact that can be reasonably determined.
1.15 	(b) The fiscal note may comment on technical or mechanical defects in the bill but 
1.16 	shall express no opinions concerning the merits of the proposal.

1.17 	Sec. 2. Minnesota Statutes 2010, section 270C.11, subdivision 5, is amended to read:
1.18 		Subd. 5.Revenue estimates; legislative bills. Upon reasonable notice from the 
1.19 	chair of the house of representatives or senate tax committee that a bill is scheduled for 
1.20 	hearing, the commissioner shall prepare an estimate of the effect on the state's tax revenues 
1.21 	which would result from the passage of a legislative bill establishing, extending, or 
1.22 	restricting a tax expenditure. These revenue estimates shall contain the same information 
1.23 	as provided in subdivision 4 for expenditure items contained in the tax expenditure budget, 
2.1 	as appropriate and where possible, shall include any private sector impact that can be 
2.2 	reasonably determined.