This year will be a traditional bonding year in the Minnesota Legislature. State Senator Julie Rosen of Vernon Center is the chair of the senate finance committee. She says her caucus is basing their projections on how much debt the state can handle.
“We can go up to 755 million dollars without new debt being issued,” said Rosen. “After that for every 100 million dollars we borrow, it costs the state 143 million dollars to pay that debt back over 20 years.”
The Minnesota legislative session will begin on February 11th.