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Committee considers MMB bill to move budget-reserve recommendation due date to Oct. 30
Summary
Senate File 2851 would move the due date for Minnesota Management and Budget's budget-reserve recommendation report from September to Oct. 30 to accommodate later availability of required economic data; the committee laid the bill over.
Senate File 2851, an agency bill from Minnesota Management and Budget (MMB), was presented Thursday before the Senate State and Local Government Committee. The bill would move the due date for the budget-reserve recommendation report from September to Oct. 30 to accommodate the timing of an MMB volatility study that relies on U.S. Bureau of Economic Analysis data.
Senator Jeong introduced the measure and said the U.S. Bureau of Economic Analysis historically provided data in time to meet the September deadline but has shifted production timing, leaving MMB insufficient time to complete the volatility study and the report.
Eric Anderson, government relations director at MMB, told the committee MMB has produced the report six times since it was established in 2019 and that staff need additional weeks to compile agency-provided data and final checks. He said the additional time would allow MMB to submit a more complete report in advance of the November budget and economic forecast.
Senator Jeong described the bill as straightforward and the committee laid Senate File 2851 over for possible inclusion in a future omnibus bill; no committee vote to pass the bill was recorded at the hearing.
