Stable budget outlook projects $3.7 billion surplus now, no deficit in next biennium
The projected surplus for Fiscal Years 2026-27 is now higher than it was in the November estimate, and no deficit is projected for the next biennium.
“Minnesota’s budget outlook has improved amid significant near-term economic and fiscal uncertainty,” according to the February forecast released Friday by Minnesota Management and Budget.
The 2026-27 biennium projected balance is now $3.7 billion, $1.3 billion higher than November estimates. “A slightly improved economic outlook drives a higher revenue forecast largely driven by more volatile sources of revenue,” according to MMB.
However, spending growth is forecast to outpace revenue growth in the projections through Fiscal Year 2029. The projected General Fund balance for the 2028-29 biennium is now $377 million, but “a significant structural imbalance remains. Shifting policies at the federal level and missing or incomplete data due to recent federal government shutdowns introduce significant uncertainty to the projections,” according to MMB.
Read more at Session Daily.
Session Daily
‘Melissa Hortman State Office Building’ gets overwhelming committee approval (3/12/2026 2:18:00 PM) Will livestreamed government proceedings be coming to your Facebook feed? (3/12/2026 1:52:00 PM) Tax panel considers expanding refunds for big property tax hikes (3/12/2026 12:54:00 PM) Public safety committee rejects bill to increase penalties for misconduct by public officials (3/11/2026 7:16:00 PM) Pair of bills take aim at banning neonicotinoid insecticides, paraquat herbicide (3/11/2026 7:04:00 PM) Youth bill of rights would outline standards for foster care (3/11/2026 6:32:00 PM) Education committee lays over governor’s policy bill (3/11/2026 6:26:00 PM) Transportation panel approves plan for a Metro Transit takeover of suburban routes (3/11/2026 5:16:00 PM) School referendum ballot change would remove notice of taxation (3/11/2026 3:59:00 PM) Bill targeting ‘stay or pay’ provisions meets committee roadblock (3/11/2026 3:18:00 PM) Nondisclosure agreements could become no-nos for municipalities (3/11/2026 3:08:00 PM)
Photography
This week's slideshow,
photo gallery and
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Live Video
Event Schedule
Session Daily Update
Thursday, March 12 2026 3/12/2026 3:25 PM
Watch: Live Event
Updates from the House.
House Floor Session
Thursday, March 12 2026 3/12/2026 3:30 PM
Watch: Live Event
CALENDAR FOR THE DAY.
HF3556 (Acomb) Community solar garden program named for Melissa Hortman.
HF3425 (Howard) Supportive housing provider grant funding provided, report required, and money appropriated.
HF3378 (Schomacker) Commissioner of human services required to release unredacted initial Optum reports, and dissemination and publication of data prohibited.
FRIDAY: No House meetings scheduled
Friday, March 13 2026 3/13/2026 8:00 AM
Watch: Live Event
No House meetings scheduled
MONDAY: House Floor Session*
Monday, March 16 2026 3/16/2026 3:30 PM
Watch: Live Event
*Time of convening has not yet been set.
CALENDAR FOR THE DAY.
HF2169 (Schwartz) Unintentional murder in the second degree offense modified to include cases involving violation of protective orders issued in additional jurisdictions.
HF3379 (Schomacker) Housing stabilization services repealed.
HF3615 (Hanson) Cannabis laboratory testing requirements extended.
News and Notes
Bill Introductions: HF4047-HF4146
2026 Legislative Session
The 2026 legislative session must conclude by May 18.
Committee deadlines
First and second: March 27 at 5 p.m.: Committees must act favorably on bills in the house of origin and committees must act favorably on bills, or companions of bills, that met the first deadline in the other body.
Third: April 17 at 5 p.m.: Committees must act favorably on major appropriation and finance bills.
Members not seeking re-election
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