Legislature Reaches Third Deadline The Legislature has reached another important deadline this week; Friday, April 19, is the final date upon which committees can act favorably on major appropriation and finance bills. Called the Third Deadline, the House and Senate Finance Committees are required to pass supplemental budget bills to the House Ways and Means ...
Minnesota Revenues Continue to Grow Minnesota Management and Budget (MMB) reported this week that Minnesota’s revenue collections for February and March are $241 million more than was forecasted in the February 2024 Budget and Economic Forecast. MMB also reported that the State’s macroeconomic consultant now expects a slightly improved economic outlook in the “near term”. ...
Omnibus Policy Bills on the Move Prior to the March 22nd legislative deadline for policy bills, most committees created omnibus policy bills. Starting this week, both the House of Representatives and the Senate engaged in lengthy floor sessions as they passed many of these bills. It is expected that both the House and Senate will ...
Joint Budget Targets Late last Friday, Governor Tim Walz, along with leaders of the Minnesota House and Senate, agreed to modest joint budget targets for supplemental budget bills. The targets would allow for spending $477.5 million in the current 2024/25 budget, and $62.7 million in future years. Starting with a $3.7 billion projected budget surplus ...
Republicans Retain Daudt Seat Republican Bryan Lawrence of Baldwin Township in Sherburne County won the Minnesota State House Special Election in District 27B to replace former Representative Kurt Daudt, who resigned ahead of the 2024 session to take a new job. Lawrence won by a large margin, garnering 84.5% of the vote, with the DFL ...
Where is the Governor’s Supplemental Budget? With legislators racing toward the first and second bill deadline on March 22, the Walz Administration spent the week behind closed doors putting the finishing touches on its final supplemental budget recommendations. Before the House and the Senate can assemble supplemental budget bills, Governor Walz will need to reveal ...
Looking Ahead to Next Week With first and second deadlines fast approaching on March 22, expect the pace at the Legislature to increase next week as legislators race to meet these important policy bill deadlines. Governor Walz is also expected to release his supplemental budget on Tuesday, March 12, and finance committees will begin hearings ...
Minnesota’s Budget and Economy Improve Minnesota Management and Budget released the February Budget and Economic Forecast on Thursday, February 29, showing improvement since the November Forecast. The current 2024-25 biennium is now projected to end with a surplus of $3.715 billion, an increase of $1.324 billion compared to November projections. The near-term economic outlook has ...
HOUSE AND SENATE PASS TAX CORRECTIONS BILL By strong bipartisan votes, the House and Senate this week passed the Tax Corrections Bill which will impact 2023 taxes. The Governor is expected to sign the bill quickly because taxpayers are already starting to file their returns. The bill corrects the 2023 tax law that inadvertently reduced ...
Good News Coming in the February Forecast? Minnesota continues to exceed expectations in its revenue collections, which bodes well for the February Economic Forecast announced at the end of the month. On Monday, February 12, Minnesota Management and Budget (MMB) reported that net revenue collections for all major tax types in January exceeded forecasted amounts. ...
Minnesota Management and Budget (MMB) released the State Economic Forecast today. In the Forecast, MMB declared that “Minnesota’s budget and economic outlook remains stable” for the remainder of the FY 2024-2025 biennium, with a projected surplus of $2.4 billion. This $2.4 billion number is an increase of $808 million from the estimates made after the ...
Tim Marx will be presenting at the 2023 Permanent Supportive Housing Symposium November 6-7, 2023. His presentation is titled, “Not a Solo Act: Creating Unique PSH Partnerships Across Our Country to Develop Affordable Housing,” Nonprofits are increasingly realizing the way to solve homelessness is to increase the supply of supportive housing units. But understanding land ...
November 6, 2023