May 19, 2022
86
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1:26Now PlayingGovernor Tim Walz issued a press release Wednesday, May 18, outlining a complete budget framework agreement with legislative leaders. The February budget and economic forecast projected a surplus of $9.253 billion for FY 2022-23. The agreement governs spending through the FY 2024-25 biennium.
Earlier this week, the framework included $4 billion in tax relief, $1 billion for health and human services, $1 billion for E-12 education and $450 million for judiciary and public safety.
The latest press release stipulates budgetary targets of $846 million for transportation, which includes provisions that will provide matching funding to capture federal infrastructure dollars, $100 million for housing, $47.3 million for energy, $46 million for higher education and $15 million for agriculture.
In addition, the agreement provides for $50 million in broadband expansion, $60 million for mental health and $18.4 million for a drought relief package to aid farmers and ranchers who were impacted by last summer’s drought.
Legislators must complete their work on supplemental funding and policy bills by midnight Sunday, May 22. The legislature adjourns Monday, May 23.
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