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Minnesota Governor's Proposed Capital Budget

Compiled by the Minnesota Legislative Reference Library

The Minnesota capital budget includes funding for tangible, public assets (like buildings, roads, or parks) rather than programs. Funding comes from a variety of sources, including general obligation bonds, user-financed bonds, revenue bonds, and general fund cash.

Each biennium, the governor is required to submit a three-part budget to the Minnesota Legislature: a budget message, a detailed proposed operating budget, and a proposed capital expenditures budget. Parts one and two are presented in January or February of odd-numbered years and part three, the proposed capital budget, in January of even-numbered years. In addition, a smaller supplemental capital budget is sometimes proposed in odd-numbered years.

The requirement that the governor submit a proposed capital budget was added by the 1974 legislature (Laws of Minnesota 1974 Chapter 355 section 43). In 1991, the capital budget process saw some major reforms including a requirement that "the detailed capital budget must include recommendations for capital projects to be funded during the next six fiscal years" rather than for the next two fiscal years. (Laws of Minnesota 1991 Chapter 342 sections 2-6.) The requirement that the governor's proposed capital budget be submitted in even-numbered years was added in 1993. (Laws of Minnesota 1993 Chapter 192 section 53).

Planning for the capital budget begins well before the governor's proposal is released in January. Agencies and local units of governments each submit preliminary capital budget requests to the Minnesota Management and Budget agency. Those preliminary requests are compiled and released the summer before the governor's proposed capital budget is issued.

2024 Proposed Capital Budget (2024/2029)

Governor Tim Walz (January 2024)