Updates from the Government Relations team are sent periodically during the legislative session
November economic forecast: $1.54 billion surplus projected

The Office of Minnesota Management and Budget (MMB) released the state’s November budget forecast today, which projects the state budget to have a $1.54 billion surplus for the next biennium (2020-2021), which begins on July 1, 2019.

Additionally, $491 million will be put into the state's budget reserve in accordance with state law, which now totals $2.075 billion. Slower economic growth is projected to continue into the 2022-23 biennium, resulting in a slowdown in forecast revenue growth, leaving forecast revenues exceeding base expenditure estimates by only $456 million for that biennium.

Another budget forecast will be issued late February, which fine-tunes the November's forecast with more recent data. State legislators will rely on the February forecast numbers to craft the two-year state budget.

Further details about the November economic forecast can be found on the MMB Web site .

The upcoming legislative session is scheduled to begin on Tuesday, January 8, 2019.
Important Links
  • Committee schedules can be found HERE
  • Many committee hearings and floor sessions are streamed live via the web or broadcast on television. More information and a schedule can be found HERE
Government Relations team:
Bernie Omann –  Bernie.Omann@MinnState,edu
Melissa Fahning - Melissa.Fahning@MinnState.edu
Tina Firkus - T ina.Firkus@MinnState.edu