$1.3 billion budget surplus projected for current biennium
This morning Minnesota Management and Budget (MMB) released the 2019 November economic forecast. Minnesota’s economic outlook has improved since the end of the 2019 session. A better than expected close to the last biennium, an improved revenue forecast, and a small decrease to estimated spending create a forecast surplus of $1.332 billion in the 2020-21 biennium. Because of the positive budget outlook, there will be an automatic allocation to the budget reserve account, bringing the reserve balance to its statutory target level of $2.359 billion.
While the 2020 legislative session is not considered a budget year, lawmakers and Gov. Tim Walz will likely put forward ideas on how they want to spend the surplus budget. MMB will issue an updated economic forecast the end of February, which lawmakers and the Governor will look to for any final budget decisions. MMB Commissioner Myron Frans, State Economist Dr. Laura Kalambokidis, and State Budget Director Britta Reitan will present the forecast at 11:15 this morning at the Department of Revenue. Later this morning, documents regarding the forecast will be posted on the MMB web site.
Gov. Walz announces special elections date
Last week, Governor Tim Walz announced the date for the two special elections to fill vacancies in the Minnesota House of Representatives. In House District 30A, Rep. Nick Zerwas, R-Elk River, announced on November 25 that he will be resigning his seat in the Minnesota House effective December 6. House District 30A includes the communities of Elk River, Big Lake, Big Lake Township, and Otsego. Candidate filing opened on Tuesday, December 3 and will close on Tuesday, December 10. The special primary, if needed, will take place on Tuesday, January 14. The special general election will be held on Tuesday, February 4.
The other special election will be for House District 60A. That district’s legislative seat became vacant when Rep. Diane Loeffler, DFL-Minneapolis, passed away on November 16. House District 60A covers the northeastern portion of Minneapolis. Candidate filing opened on Tuesday, December 3 and will close on Tuesday, December 10. The special primary, if needed, will take place on Tuesday, January 21. This is a different date than what’s scheduled for the House District 30A seat in order to accommodate the large student population in the district. The special general election will also be held on Tuesday, February 4.
The winners of the special elections will take office in time for the beginning of the 2020 Legislative Session, which starts on Tuesday, February 11.
For more information please contact the Government Relations Team: