This bill amends Minnesota Statutes 2024, section 16A.105, to require the preparation of a bonding bill forecast in addition to the existing debt capacity forecast. The commissioner is mandated to deliver both forecasts to the governor and legislature in February and November of each year. The debt capacity forecast will include details on the state's indebtedness, actual debt service amounts for the past two fiscal years, and estimates for the current and next six fiscal years.

The newly introduced bonding bill forecast will specify the maximum amount of state general obligation bonds that could be issued and sold by November 1, ensuring that the debt service paid by the general fund does not exceed 2.5 percent of total nondedicated general fund revenues. This section will take effect the day following its final enactment.

Statutes affected:
Introduction: 16A.105