Greetings~
Another busy week in St. Paul has passed; finance committees have now begun crafting the state budget for the next two years.
Budget Surplus:
The Office of Minnesota Management and Budget (MMB) released the February economic forecast Tuesday, revealing a larger budget surplus than forecasted last fall. For the 2018-2019 budget years, Minnesota is projected to have a $1.65 billion surplus, an increase of about $250 million. Additionally, the surplus for the 2020-2021 biennium could be as large as $2.124 billion.
The increase in the surplus mostly comes from greater-than-expected revenue from individual income taxes, the general sales tax, and the corporate franchise tax. MMB budget documents state that an improved U.S. economic outlook and positive numbers for key economic data points such as personal income growth, employment, and consumer spending have contributed to the additional surplus revenue.
Uniform Labor Standards:
On a bipartisan vote of 76-53, a bill I co-authored that makes private employment regulations uniform across the state of Minnesota passed the House of Representatives on Thursday.
Over the past couple years, a few cities (specifically Minneapolis and St. Paul) have proposed establishing and have enacted their own labor standards. This practice of patchwork city ordinances dampers job growth, discourages businesses from contemplating an expansion into Minnesota, and possibly even drive businesses out of Minnesota; ultimately resulting in a loss of jobs for Minnesota workers.
I, along with my colleagues from both parties, trust our local business owners and their employees to determine wages and benefits.
Bills I’ve Chief Authored:
A bill I chief authored, House File 1377, which would create a group of stakeholders with the responsibility to develop recommendations regarding consumer protections for energy efficiency financial programs for residential homes, was heard in the Commerce and Regulatory Reform Committee, and the committee that I chair: Government Operations and Elections Policy Committee.
Bills Moving Through The Legislature:
This week, a bill (House File 1234) that would establish a tax-exempt first-time home buyer savings account program was heard in Commerce and Regulatory Reform Committee and then re-referred to State Government Finance Committee for its next hearing. The goal of this bill is for Minnesotans to be able to achieve the “American Dream” by encouraging folks to purchase a home who have traditionally worried about the large initial investment of home ownership. In order to qualify for the program, the buyer must not have owned a house within the last 3 years.
Another bill (House File 5), heard this week in Commerce and Regulatory Reform Committee and then re-referred to Health and Human Services Finance Committee for its next hearing, provides reinsurance within the individual health insurance market in Minnesota. This bill is attempting to stabilize the health insurance market and make coverage cheaper and more available through subsidizing expensive claims.
Electing University of MN Regents:
Last Wednesday evening, the House and Senate met jointly and elected four Regents to the University of Minnesota Board of Regents. The Board of Regents oversees the administration of the university, approve polices and plans, and clarifies the mission of the school.
Two new Regents chosen include: Ken Powell, the chairman and CEO of General Mills, and former Minnesota House Speaker, Steve Sviggum. David McMillan, an executive with Minnesota Power, and Darrin Rosha, an attorney, were both re-elected to serve another term with the Board of Regents.
Congratulations:
Congratulations to Sgt. Rick Schueler of Alexandra for being named the State Patrol’s Trooper of the Year; thank you for your service to our state!
Fun Fact of the Week:
Today in 1931, “The Star-Spangled Banner” became the official national anthem of our country. Francis Scott Key wrote the lyrics to it while the Battle of Fort McHenry was being fought during the War of 1812.
If you know of anyone who would like to receive future email updates, forward this email to them and have them sign up here. Also, if you ever have any questions, comments, or concerns regarding any issue related to state government, please feel free to contact me at either 651-296-7808 or rep.tim.odriscoll@house.mn.
Sincerely,
