Dedicated funds resting in the state’s General Fund account could be moved to a special revenue account. But to do so, Minnesota Management & Budget needs legislative authorization.
Rep. Loren Solberg (DFL-Grand Rapids) sponsors
HF2037 that would allow the move. Passed 124-0 by the House May 5, it now moves to the Senate where Sen. Richard Cohen (DFL-St. Paul) is the sponsor.
Examples of the funds to be moved include fees received by the Department of Natural Resources for underground storage tanks; contaminated site cleanup and development grant funds in the Department of Employment and Economic Development; and Supreme Court guardian ad litem reimbursement.
“The appropriations will still take place; the accounting will take place. It’s just these special revenue accounts won’t be housed in the General Revenue Fund,” Solberg said.
Rep. Mary Liz Holberg (R-Lakeville) expressed concern during the committee process about possible unintended consequences of the move, especially giving the appearance of a lower General Fund balance, possibly leading to a less-than-desirable interest rate from bond houses.
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