HF2790 (Legislative Session 94 (2025-2026))
Requirement for state forecast to account for rate of inflation eliminated.
Related bill: SF2675
AI Generated Summary
Purpose of the Bill
The purpose of the bill is to modify the way the Minnesota state government prepares its financial forecasts. Specifically, the bill aims to eliminate the requirement that these forecasts account for inflation in their expenditure estimates.
Main Provisions
- The bill amends Minnesota Statutes 2024, section 16A.103, subdivisions 1a and 1b.
- It mandates that while revenue estimates should consider all available sources under current law, expenditure estimates must not include any allowance for inflation.
Significant Changes to Existing Law
- Previously, Minnesota's financial forecasts may have included projections for inflation as part of calculating future expenditures. This bill changes that by explicitly removing the requirement to adjust expenditure estimates for inflation.
Relevant Terms
- State forecast
- Inflation
- Expenditure estimates
- Minnesota state government
- Financial forecasting
Bill text versions
- Introduction PDF file
Actions
| Date | Chamber | Where | Type | Name | Committee Name |
|---|---|---|---|---|---|
| March 25, 2025 | House | Floor | Action | Introduction and first reading, referred to | State Government Finance and Policy |
Citations
[
{
"analysis": {
"added": [],
"removed": [
"Requirement for expenditure estimates to include an allowance for inflation."
],
"summary": "The bill amends forecast parameters related to state budgeting in section 16A.103, subdivision 1a.",
"modified": [
"Clarifies expenditure forecasts should not account for inflation."
]
},
"citation": "16A.103",
"subdivision": "subdivision 1a"
}
]