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Minnesota legislator wants more money for budget reserve

News Detroit Lakes,Minnesota 56501
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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