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Minnesota legislator wants more money for budget reserve

News Detroit Lakes,Minnesota 56501 http://www.dl-online.com/sites/all/themes/dlonline_theme/images/social_default_image.png
Detroit Lakes Online
Minnesota legislator wants more money for budget reserve
Detroit Lakes Minnesota 511 Washington Avenue 56501

ST. PAUL - The Minnesota Senate's finance chairman wants more money in the state budget reserve.

Sen. Richard Cohen, D-St. Paul, introduced a bill to put an additional $340 million into the reserve this year, raising the total to $1 billion.

The current reserve is 1.7 percent of state revenues. Minnesota Management and Budget, the state's financial department, suggests 4.9 percent. If that were done, the reserve would be $1.9 billion.

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