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. General fund revenue collections in January were $313 million more than forecasted and, for fiscal year 2024, revenue collections already exceed the forecast by $384 million.
House to Debate Tax Fix
On Monday, February 19, the full House of Representatives will debate H.F. 2757, a bill correcting a tax provision that passed when the 2023 Omnibus Tax Bill became law last May. According to the bill author, Representative Aisha Gomez (DFL-Minneapolis), this change in 2023 inadvertently reduced the standard individual income tax deduction by undoing the inflation adjustments instituted since 2019. H.F. 2757 undoes this change and preserves the standard deduction for Minnesota filers. Without this correction, most Minnesota filers would see a tax increase. The House is expected to overwhelmingly pass this bill with Senate action following quickly.
Changes in House Membership
The House of Representatives has experienced two changes in membership. Rep. Bianca Virnig (DFL-Eagan), a former school board member, won a District 52B special election on December 5 to replace former Representative Ruth Richardson, who resigned September 1, 2023. Former Representative and House Speaker Kurt Daudt (R-Crown) resigned his seat on February 11. A special election has been called for March 19 to fill the District 27B seat. There have been no changes in Senate membership.
Key Session Dates
With the 2024 Legislative Session up and running, here are the key dates to watch:
| Date | Significance |
| February 12 | Session Begins |
| February 28 | February Budget Forecast Released |
| March 22 | 1st and 2nd Bill deadlines. Policy bills must be out of committees in both the House and the Senate. |
| March 27– April 2 | Easter Recess |
| April 9 – April 11 | Eid Recess |
| April 19th | 3rd Bill Deadline. Finance and spending bills must be out of committees in both the House and the Senate. |
| April 22- April 24 | Passover Recess |
| May 20 | Constitutionally Required Session Adjournment Date |
Legislative Retirements
While session is barely a week old, fifteen House members have already announced that this session will be their last. The chart below lists these members:
| Legislator | Party | District | Announcement Date |
| Jamie Becker-Finn | DFL | 40B | 12/19/2023 |
| Brian Daniels | R | 19A | 9/15/2023 |
| Pat Garofalo | R | 58B | 1/16/2024 |
| Matt Grossell | R | 2A | 12/8/2023 |
| Hodan Hassan | DFL | 62B | 2/5/2024 |
| Shane Hudella | R | 41B | 12/7/2023 |
| Debra Kiel | R | 1B | 1/12/2024 |
| Michael Nelson | DFL | 38A | 1/4/2024 |
| Jerry Newton | DFL | 35B | 2/15/2023 |
| Liz Olson | DFL | 8A | 1/5/2024 |
| Gene Pelowski | DFL | 26A | 1/7/2024 |
| John Petersburg | R | 19B | 1/10/2024 |
| Brian Pfarr | R | 22B | 12/20/2023 |
| Laurie Pryor | DFL | 49A | 1/17/2024 |
| Mark Wiens | R | 41A | 1/26/2024 |
Source: Minnesota Legislative Reference Library
February 16, 2024
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