Highlights of the finance bills

Last update: April 4, 2008 - 12:52 PM

Here are some of the ways that the finance bills passed by the Senate (SF3813) and by the House (HF1812) would knock down the state's $935 million projected budget deficit.

Tapping reserves and cash flow account: Senate -- $450 million; House -- $600 million.

Health and welfare cuts: Senate -- $186.6 million; House -- $131 million.

Higher education cuts: Senate -- $22.8 million; House -- $19.4 million.

Revenue through tax compliance or elimination of corporate breaks: Senate -- $26 million; House -- $200 million.

Transportation revenue: Senate -- $10.2 million from $10 increase in title transfer fee.

Source: Senate Fiscal Staff, House Research

OTHER PROVISIONS

The finance bills have many other elements. A few examples:

No Child Left Behind: The House bill would take Minnesota out of the program by the 2009-10 school year.

Agriculture: Both bills include money for fighting bovine tuberculosis.

Xcel Energy Center: The Senate bill would forgive a portion of a state loan to St. Paul for construction of the arena.

Veterans Affairs: The Senate bill includes a provision to increase spending for a hotline designed to connect veterans with available benefits. The House bill would offer interest-free loans to businesses hurt by deployment of employees who are reservists.

Environment: The House version would send $450,000 to seven southeastern counties hit by last year's floods. It also would set aside $134,000 to implement California's disputed auto emissions standard.

Sources: House, Senate, Associated Press

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