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Senate Counsel, Research and Fiscal Analysis
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Minnesota Senate Bldg.
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95 University Avenue W. Suite 3300
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St. Paul, MN 55155
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(651) 296-4791
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Alexis C. Stangl
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Director
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Senate
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State of Minnesota
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S.F. No. 1671 - Public Value Impact Statements for Financial and Regulatory Impact of Proposed Legislation
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Author:
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Senator Roger C. Chamberlain
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Prepared By:
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Stephanie James, Senate Counsel (651/296-0103)
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Date:
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March 19, 2012
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Section 1 [Public Value Impact Statement] requires that chief authors of legislation prepare a public value impact statement if their legislation would result in a new or increased level of public spending, impose new or increased financial obligations on a unit of local government, or impose new regulatory burdens on the private sector. The statement must summarize why the legislation is cost-beneficial. The public value impact statement shall include specified items.
The House of Representatives and Senate must each adopt rules specifying a process under which public value impact statements, when required, will be considered by committees. The statement must be maintained with official records of legislative committees.
SJJ/rdr
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Last review or update: 03/19/2012
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