The Legislative Budget Office (LBO) is a nonpartisan office within the Legislative Branch of Minnesota state government. Effective September 1, 2019, the LBO will be responsible for working with state agencies to provide the House and Senate with information on the fiscal impact of proposed legislation. The product of this work is known as a fiscal note. The role of the LBO is similar to that of the Congressional Budget Office (CBO), who performs similar analysis for the United States Congress.
The primary goal of the LBO is to provide legislators with the estimated financial impact to the state budget for legislation under consideration. The office is under the direction of the LBO Director, who is appointed by the Legislative Budget Office Oversight Commission.
The Legislature created the LBO during the 2017 Legislative Session. Funding for the LBO was first appropriated in fiscal year (FY) 2018. Changes enacted during the 2018 Legislative Session established an effective date for the LBO to assume fiscal note responsibilities on September 1, 2019. Prior to the creation of the LBO, and up to September 1, 2019, Minnesota Management and Budget (MMB), a state agency within the Executive Branch, is responsible for submission of fiscal notes to the legislature.