Minnesota HF1956 raises the sales threshold for municipal liquor stores to require audited financial statements.

Minnesota HF1956 amends the threshold for municipal liquor stores to submit audited financial statements to the state auditor. The bill raises the sales threshold from $350,000 to $500,000. Any city operating a municipal liquor store with annual sales exceeding $500,000 must submit audited financial statements within 180 days after the fiscal year's end. The state auditor can extend this deadline if the city shows an inability to conform. The bill modifies Minnesota Statutes 2024, section 471.6985, subdivision 2.

Minnesota HF1956 raises the sales threshold for municipal liquor stores to require audited financial statements.

Minnesota HF1956 amends the threshold for municipal liquor stores to submit audited financial statements to the state auditor. The bill raises the sales threshold from $350,000 to $500,000. Any city operating a municipal liquor store with annual sales exceeding $500,000 must submit audited financial statements within 180 days after the fiscal year's end. The state auditor can extend this deadline if the city shows an inability to conform. The bill modifies Minnesota Statutes 2024, section 471.6985, subdivision 2.