Minneslate Logo

SF2198 (Legislative Session 94 (2025-2026))

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

Related bill: HF268

AI Generated Summary

This bill (S.F. No. 2198) relates to transportation funding in Minnesota. It establishes limitations on the use of interest or investment income generated from transportation revenue sources.

Key Provisions:

  1. Investment of State-Aid Funds:

    • The bill amends Minnesota Statutes section 162.16 to state that money in the county state-aid highway fund and municipal state-aid street fund must be invested by the State Board of Investment.
    • All interest or profits generated from these investments must be credited back to the respective fund.

  2. Limitations on Local Investment Income Usage:

    • The bill defines "transportation revenue source" to include:
      • Funds allocated to local governments under certain statutes.
      • Grants, loans, or state financial assistance for transportation projects.
      • Revenue from transportation-related taxes and fees (excluding filing fees from vehicle registration and licensing).
      • Reserves established from these revenue sources.
      • Debt instruments secured by these transportation-related revenues.
    • Local governments are required to use any interest or investment earnings from these transportation revenue sources only for transportation-related purposes.

Purpose:

The bill ensures that interest and investment income generated from transportation funds remain dedicated to transportation-related spending rather than being diverted for other uses by local governments.

Bill text versions

Actions

DateChamberWhereTypeNameCommittee Name
March 05, 2025SenateFloorActionIntroduction and first reading
March 05, 2025SenateFloorActionReferred toTransportation

Citations

 
[
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "This bill discusses the investment of state aid funds, referencing section 11A.21 which authorizes types of securities for investment.",
      "modified": []
    },
    "citation": "11A.21"
  },
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "Includes funds under section 16A.88 as part of transportation revenue sources.",
      "modified": []
    },
    "citation": "16A.88"
  },
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "Refers to section 297A.815 as part of the transportation revenue sources.",
      "modified": []
    },
    "citation": "297A.815"
  },
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "Includes section 163.051 among the transportation-related taxes and fees.",
      "modified": []
    },
    "citation": "163.051"
  },
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "Lists section 297A.9915 under the transportation-related taxes and fees.",
      "modified": []
    },
    "citation": "297A.9915"
  },
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "Cites section 297A.992 as one of the statutes related to transportation-related taxes and fees.",
      "modified": []
    },
    "citation": "297A.992"
  },
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "Mentions section 297A.993 under transportation-related taxes and fees.",
      "modified": []
    },
    "citation": "297A.993"
  },
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "Refers to transportation-related taxes and fees under section 473.408.",
      "modified": []
    },
    "citation": "473.408"
  },
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "Section 473.446 is included among those involving transportation-related taxes and fees.",
      "modified": []
    },
    "citation": "473.446"
  },
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "Specifies that filing fees under section 168.33 are excluded from transportation-related taxes and fees.",
      "modified": []
    },
    "citation": "168.33"
  },
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "Excludes filing fees under section 171.061 from transportation-related taxes and fees.",
      "modified": []
    },
    "citation": "171.061"
  }
]

Sponsors