HF4666

Purpose

To move money within state funds by transferring a portion of the Family and Medical Benefit Insurance Account to the General Fund as a one-time action connected to the Minnesota Paid Leave Law.

Main Provisions

• On June 30, 2026, the commissioner of management and budget must execute a one-time transfer of $70,000,000.
• Source: from the Family and Medical Benefit Insurance Account (FMBI) established in Minnesota Statutes § 268B.02, subd. 4.
• Destination: the General Fund.
• This is a single, non-recurring transfer and does not establish ongoing funding arrangements.

Significant Changes to Existing Law

• Creates a one-time transfer of $70,000,000 from the FMBI to the General Fund, reducing the funds available in the FMBI.
• Represents a shift of money associated with the Minnesota Paid Leave Law from a dedicated account to the General Fund, potentially affecting the financing available for paid leave programs.
• No changes to program requirements or ongoing funding mechanisms are specified; the action is limited to the one-time transfer.

Implications

• The FMBI balance would be reduced by $70 million on the transfer date.
• The General Fund would receive $70 million, altering the state’s available resources for that fiscal period.
• The action is limited in time (one-time) and does not establish new ongoing funding.

Relevant Terms

• Family and Medical Benefit Insurance Account (FMBI)
• General Fund
• One-time transfer
• June 30, 2026
• Minnesota Paid Leave Law
• Minnesota Statutes § 268B.02, subd. 4
• Commissioner of Management and Budget
• Transfer from FMBI to General Fund