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    Title: 2021 Budget Global Agreement Term Sheet
    Article Date: 5/16/2021
    Source:
    Author:
    Type: Other
    URL:
    File: Global Agreement & Working Group Framework_05.17.21_tcm1055-482252.pdf 

    Text: 11:58 PM
    5/ 16/2021
    $ In millions
    1 February Forecast Balance*
    2
    3
    4 Net Targets
    5 E-12 Education
    6 Higher Education
    7 HHS
    8 Environment
    9 Ag/Broadband
    10 Housing
    11 Transportation
    12 Public Safety
    13 Labor/Workforce**
    14 Energy/Commerce
    15 State Gov
    16 capital
    17 COVIO Flexible Fund
    Other Bills
    18
    19 Net Spending in Targets
    20
    21
    22
    23 SFRF Revenue Replacement
    24
    25
    26 Net Tax Bill Target
    27
    28 Balance in each Biennium
    29 Budgetary Balance
    30
    31
    32 Toto/ ARPA SFRF Spend
    33 Total ARPA SFRF Spend FY 21-25
    34
    35 ARPA SFRF Remaining
    * Adjusted for $7.8 million appropriations in Ch. 13
    ** Assumes $44 million cancellation in this budget area
    House/Senate/Gov Agreement
    1,664
    21-23
    525
    100
    100
    30
    10
    10
    200
    105
    125
    16
    67
    TBD
    0
    9.6
    1,298
    550
    (754)
    162
    J,050
    707
    24-25
    675
    100
    100
    10
    10
    12
    15
    110
    17
    8
    63
    TBO
    0
    6.9
    1,127
    550
    (180)
    (SO)
    112
    550
    1,600
    1,233
    2,833
    ARPA SFRF
    FY 21-23
    0
    0
    0
    0
    0
    0
    0
    0
    0
    500
    500
    1,100
    Global Agreement and Working Group Framework - May 17, 2021
    The following are agreed upon by the Governor, Speaker of the House, and Senate Majority leader:
    1. The Governor, Speaker of the House and Senate Majority Leader agree to global targets for
    budget and tax bills as outlined in the May 16 11:58 pm signed spreadsheet.
    2. The COVID Flexible Fund will fund the following specific proposals:
    a. $75 million for Summer learning;
    b. $7 million for state government for operating deficiency and remote work; and
    c. $12 million for continued operations of the Minnesota Zoo.
    3. Housing target includes debt service $100 million for Housing Infrastructure Bonds. If Congress
    passes a federal infrastructure bill in 2021 t hat includes funding for the same purpose these
    bonds will not be sold.
    4. $70 million for broadband funding source and bill to be determined.
    S. The remaining ARPA SFRF of $1,233 billion will be jointly agreed to in the 2022 Legislative
    Session.
    6. The Governor, Speaker o f the House and the Senate Majority Leader agree to increase the
    budget reserve level in M.S. 16A.152, subdivision 2, paragraph (a) from $1,596,522,000 to
    S2,377,319,000. This change will be Included in the taxes omnibus bill.
    7. Any policy and finance provisions included in a final omnibus finance bills must be agreed upon
    by the Governor, Speaker of the House, and the Senate Majority Leader.
    8. The Governor, Speaker of the House and Senate Majority Leader agree the appropriate
    commissioners and committee chairs shall work cooperatively to reach agreement within the
    target for conference committee reports.
    9. To ensure a timely conclusion working group members and commissioners must complete their
    finance spreadsheets by 5:00 pm on Friday, May 28, 2021. Language agreed to by June 4th
    10. The global budget targets agreement reached by the Governor, Speaker of the House and
    Senate Majority leader does not ensure approval of any omnibus bills.

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