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State debt capacity remains below guideline limits in February forecast, MMB says
Summary
Minnesota Management and Budget reported the February debt capacity forecast shows the state remains under its statutory debt guidelines, with lowered 2025 bonding assumptions driven by higher interest rate projections.
Jennifer Hassimer, assistant commissioner at Minnesota Management and Budget, told the Senate Capital Investment Committee on March 25 that the state remains well under its three statutory debt guidelines in the agency’s February debt capacity forecast.
“this measure was 1.9%,” Hassimer said, referring to guideline number 1, which measures outstanding state debt compared to state personal income and carries a limit of 3.25% or less.
The February forecast showed guideline number 2— which measures both outstanding debt and authorized-but-unsold debt— at 3.59% of state personal income, below its 6% limit. Hassimer said the state currently has about $8,400,000,000 in outstanding debt and roughly $2,500,000,000 in debt that has been authorized…
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