Governor's Budget Recommendations
| New State Investment: | $7.5 Billion for FY 2022 - 23 $5.6 Billion for FY 2024 - 25 |
| American Rescue Plan: | $1.1 Billion to frontline workers |
Budget Highlights
$5.6 Billion
Supporting Children and Families
- $75 million for Early Learning Scholarships expansion.
- $135 million to increase general education formula 2% in FY 2023.
- $155 million for full-day, prekindergarten for at underserved 4-year old children.
- $126 million for home visiting.
$1.1 Billion
Expanding Economic Opportunity
- $2.7 billion to repay the state's unemployment insurance debt.
- $700 million in one-time rebates to 2.7 million households with incomes up to $164,000 single filers and $273,470 for joint filers.
- "Hero Pay" for frontline workers and an expansion of support programs aimed at workforce development for high-need careers.
$1.6 Billion
Protecting Minnesotans Health & Safety
- $100 million in public safety aid for local governments.
- Legalizing recreational adult-use cannabis.
- $100 million one-time increase in funding for "community stabilization" Naturally Occurring Affordable Housing.
- $10 million for Prevention, Intervention, Enforcement Community Policing Grants.
$282 Million
Local Jobs and Projects Plan
- 2022 Capital Budget Debt Service and Cash Capital Costs.
Biannual Operating Budget by the Numbers
$7.7 billion: Forecasted state budget surplus
$52 billion: Size of the state's two-year budget
2022 Capital Bonding Recommendations
$2.7 Billion Local Jobs & Projects Plan
- $2 billion in general obligation bonds.
- $730 million in other funding sources, including appropriation bonds, general fund cash, trunk highway bonds, trunk highway cash, and user-financed bonds.
- Asset Preservation - 38%
Over $1 billion to maintain and renew taxpayer-owned property including $260 million to repair and replace buildings in the University of Minnesota and Minnesota State campuses. - Infrastructure - 21%
Over $560 million for infrastructure projects – bridges, roads, water treatment, etc. - Housing and Homelessness - 16%
$450 million for affordable housing projects including repairing existing shelters and investing in housing for veterans. - Community and Equity - 14%
$400 million for equity in bonding to fund organizations that service BIPOC communities. - Environmental Stewardship - 10%
Over $262 million to mitigate the impacts of climate change and preserve Minnesota's natural resources, including electric vehicle charging infrastructure and stormwater construction grants.
FAST FACTS
Total 2022 bonding requests: $5.5 billion
$4 billion in agency requests
$1.5 billion in state agency requests
2020 bonding bill - $1.9 billion
2020 Governor's request - $2.6 billion
2018 bonding bill - $1.43 billion
2018 Governor's request - $1.5 billion
2017 bonding bill - $988 million
2017 Governor's request - $1.5 billion
Bonding bills require a supermajority to pass: 60% = 40 Senators and 80 Representatives
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