Minnesota HF268 establishes limitations on the use of interest or investment income from transportation revenue.

Minnesota HF268 amends state statutes to establish certain limitations on the use of interest or investment income from transportation revenue. Local units of government must use such income only for state-aid funds. The bill applies to the counties of Anoka, Carver, Dakota, Hennepin, Ramsey, Scott, and Washington. It also mandates that the State Board of Investment manage investments of county and municipal state-aid funds, with all interest and profits credited to the respective funds. The provisions are effective the day following final enactment.

Minnesota HF268 establishes limitations on the use of interest or investment income from transportation revenue.

Minnesota HF268 amends state statutes to establish certain limitations on the use of interest or investment income from transportation revenue. Local units of government must use such income only for state-aid funds. The bill applies to the counties of Anoka, Carver, Dakota, Hennepin, Ramsey, Scott, and Washington. It also mandates that the State Board of Investment manage investments of county and municipal state-aid funds, with all interest and profits credited to the respective funds. The provisions are effective the day following final enactment.