Details of the House-Senate budget agreement reached Tuesday

Posted: Wednesday, February 20, 2002

2002-03 one-time resources totaling $1.4 billion:

-Budget reserve, $653 million

-Cash flow account, $195 million

-Local government aid reserve account, $14 million

-Tax relief account, $158.1 million

-Assigned risk surplus account, $94.9 million

-Workers compensation special fund, $230 million

-Delay fixing June accelerated sales tax until 2004, $118 million

2002-03 one-time spending reductions totaling $131 million:

-Tax increment financing grant fund, $91 million

-St. Paul busway, $40 million

2002-03 permanent spending reductions totaling $374.2 million:

-K-12 education, $15 million

-Family and early childhood, $4 million

-Higher education, $50 million

-Human services, $95.9 million

-Environment, $14.3 million

-Agriculture, $2.6

-Transportation, $4.1 million

-Judiciary, $26.3 million

-Economic development, $7 million

-State government, $41.9 million

-Tax increment financing grants, $38 million

-Salary cap, $40 million

-Professional and technical contracts, $35 million

2004-05 permanent spending reductions totaling $720 million

Eliminating 2004-05 planning inflation estimates totaling $1.1 billion



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