HF268

HF268 (Legislative Session 94 (2025-2026))

Certain limitations on use of interest or investment income from transportation revenue established.

Related bill: SF2198

AI Generated Summary

The legislative bill H.F. No. 012325, introduced by Koznick, concerns the management and usage of investment income derived from transportation-related funds in Minnesota. Specifically, the bill proposes amendments to ensure that any interest or profits generated from investing money in state-aided transportation funds, such as the county state-aid highway fund and the municipal state-aid street fund, are credited back to the respective fund. Furthermore, the bill specifies that local governments must use these earnings solely for transportation purposes. This includes income from various transportation-related financial sources such as taxes, fees, loans, and grants intended for transportation projects. This legislation aims to maintain a dedicated use of transportation funds and investment returns to support ongoing and future transportation needs in the state.

Bill text versions

Introduction PDF file

Actions

Date	Chamber	Where	Type	Name	Committee Name
February 09, 2025	House	Floor	Action	Introduction and first reading, referred to	Transportation Finance and Policy

Citations

[
  {
    "analysis": {
      "added": [
        "Specifies the State Board of Investment's role in managing state-aid fund investments."
      ],
      "removed": [],
      "summary": "The bill amends the investment guidelines and custodian provisions for state-aid funds under section 162.16.",
      "modified": [
        "Clarifies the roles of the commissioner and custodian related to state-aid funds."
      ]
    },
    "citation": "162.16"
  },
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "References the authorized securities for investment under section 11A.21.",
      "modified": [
        "Aligns investment strategies with the securities authorized under section 11A.21."
      ]
    },
    "citation": "11A.21"
  },
  {
    "analysis": {
      "added": [
        "Identifies section 16A.88 as a source of transportation revenue."
      ],
      "removed": [],
      "summary": "The bill lists section 16A.88 as a reference for transportation revenue sources eligible under the new subdivision.",
      "modified": []
    },
    "citation": "16A.88"
  },
  {
    "analysis": {
      "added": [
        "Includes section 297A.815 as a source of eligible funds for transportation revenue."
      ],
      "removed": [],
      "summary": "Section 297A.815 is cited as a source of transportation revenue under the new subdivision.",
      "modified": []
    },
    "citation": "297A.815"
  },
  {
    "analysis": {
      "added": [
        "Authorizes funds derived from taxes and fees under section 163.051 for use in transportation projects."
      ],
      "removed": [],
      "summary": "Section 163.051 is mentioned as one of the authorized statutes for transportation-related taxes and fees.",
      "modified": []
    },
    "citation": "163.051"
  },
  {
    "analysis": {
      "added": [
        "Lists section 297A.9915 as a legitimate source for transportation-related financial resources."
      ],
      "removed": [],
      "summary": "The bill cites section 297A.9915 among the statutes for authorized transportation-related taxes and fees.",
      "modified": []
    },
    "citation": "297A.9915"
  },
  {
    "analysis": {
      "added": [
        "Includes section 297A.992 as a reference for transportation funding."
      ],
      "removed": [],
      "summary": "References section 297A.992 as a statute for eligible transportation-related taxes and fees.",
      "modified": []
    },
    "citation": "297A.992"
  },
  {
    "analysis": {
      "added": [
        "Cites section 297A.993 as a viable source of transportation revenue."
      ],
      "removed": [],
      "summary": "Section 297A.993 is acknowledged as a source for transportation-related taxes and fees.",
      "modified": []
    },
    "citation": "297A.993"
  },
  {
    "analysis": {
      "added": [
        "Identifies section 473.408 as applicable for the new revenue rules."
      ],
      "removed": [],
      "summary": "This section (473.408) is included as part of the authorized statutes for transportation revenue sources.",
      "modified": []
    },
    "citation": "473.408"
  },
  {
    "analysis": {
      "added": [
        "Specifies section 473.446 as applicable for use of transportation revenue."
      ],
      "removed": [],
      "summary": "Section 473.446 is incorporated into the list of transportation-related revenue statutes.",
      "modified": []
    },
    "citation": "473.446"
  },
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "Specifically excludes section 168.33 from the list of fees applicable under transportation revenue sources.",
      "modified": [
        "Excludes filing fees under section 168.33."
      ]
    },
    "citation": "168.33"
  },
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "Section 171.061 filing fees are excluded from the new transportation revenue uses.",
      "modified": [
        "Excludes filing fees under section 171.061."
      ]
    },
    "citation": "171.061"
  }
]