On March 23, the House released its budget targets. The committee target for the entire higher education budget is an increase of $120 million above last biennium for a total of $3.526 billion.
House budget targets
On Tuesday, March 23, the House released its budget targets. The committee target for the entire higher education budget is an increase of $120 million above last biennium for a total of $3.526 billion. The House Higher Education Finance and Policy Committee will use this number to put together their spending recommendations for FY22-23 which begins on July 1, 2021. The House also included a budget target for capital investment which provides funding for $500 million in general obligation bonds.
Legislative break
The Minnesota Legislature will begin their spring break tomorrow. There will be no legislative business through Monday, April 6.
Third committee deadline
When the Minnesota Legislature reconvenes on April 7, legislators will focus on putting together and passing omnibus budget bills in each finance committee by the third committee deadline on April 9. The committee deadlines do not apply to House committees on Capital Investment, Ways and Means, Taxes or Rules and Legislative Administration, nor to the Senate committee on Capital Investment, Finance, Taxes or Rules and Administration.