Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Legacy Finance Committee reviews fund rules, reserves and biennial totals
Summary
House Legacy Finance Committee staff reviewed the rules that govern Minnesota's four legacy funds, the constitutionally required reserve and projected biennial totals; staff outlined reporting requirements and how grants must supplement'existing funding.
The Minnesota House Legacy Finance Committee received an overview of how the state''legacy funds are governed, how much is likely available for the coming biennium and the reporting and reserve rules that will shape appropriations.
Mary Davis, a House Research analyst who staffs the Arts and Cultural Heritage portion of the committee, told members the Arts and Cultural Heritage Fund was created by a constitutional amendment approved by voters in 2008 and receives 19.75 percent of the 3/8 of 1 percent legacy sales tax. She said the amendment requires that legacy funds "supplement traditional sources of funding" and not be used to supplant them. "The Arts and Cultural Heritage Fund is a state fund that can be spent only for arts, arts education, and arts access and to preserve Minnesota's history and cultural heritage," Davis said.
The committee was also briefed on the…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
