CHICAGO - Minnesota Gov. Arne Carlson has signed into law a $16.5 billion fiscal 1994-95 biennial general funds budget and a sweeping campaign finance reform measure.
Passage of the budget last week will enable the state to achieve by Nov. 30 a $400 million rainy-day fund balance. which will reduce the need for interfund borrowing in the next biennium, Carlson said in a press release. The state will end fiscal 1993 on June 30 with $360 million in the rainy-day fund.