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S.F. No. 1273 - Permanent School Fund Compensation (as amended by the A-1 amendment)
Author: Senator Carrie Ruud
Prepared By: Bjorn E. Arneson, Senate Analyst (651/296-3812)
Date: March 20, 2019


Sections 1 and 2.  Budget reserve level; additional revenues. Directs the Commissioner of Management and Budget to allocate up to $100 million of any positive unrestricted budgetary general fund balance at the close of a biennium to compensate the school trust lands, provided that higher priorities have been satisfied (cash flow account, budget reserve, school aid payment shift, and school property tax recognition shift). Updates the statutory budget reserve amount to the current balance. Strikes other obsolete language. Makes other technical changes.

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