Minn. R. agency 120, ch. 2890, pt. 2890.1900 - ADJUSTMENT OF DOLLAR AMOUNTS

A. The dollar amounts in parts 2890.1300 to 2890.1600 must be adjusted periodically, as provided in this part, according to and to the extent of changes in the implicit price deflator for the gross domestic product, 1996 = 100, compiled by the United States Department of Commerce, and hereafter referred to as the index. The index for the fourth quarter of 2001 is the original reference base index for purposes of this part. When the dollar amounts in parts 2890.1300 to 2890.1600 are adjusted, the index for the fourth quarter of the preceding year becomes the current reference base index for purposes of this part. The implicit price deflator for the gross domestic product (publ. United States Department of Commerce Bureau of Economic Analysis) is incorporated by reference in this part and is revised quarterly. It is available on the Internet at www.bea.doc.gov/bea/dn/nipaweb/index.asp.

B. The dollar amounts in parts 2890.1300 to 2890.1600 must be adjusted on July 1 of each year after 2002 in which the percentage of change, calculated to the nearest whole percentage point, between the index for the fourth quarter of the preceding year and the current reference base index is ten percent or more; but the part of the percentage change in the index in excess of a multiple of ten percent must be disregarded and the dollar amounts must change only in multiples of ten percent and, when they exceed $5, must be rounded to the nearest whole dollar.

C. If the index is revised, the percentage of change under this part must be calculated on the basis of the revised index. If a revision of the index changes the reference base index, a revised reference base index must be determined by multiplying the reference base index then applicable by the rebasing factor furnished by the United States Department of Commerce. If the index is superseded, the index referred to in this part is the one represented by the United States Department of Commerce as reflecting most accurately changes in the purchasing power of the dollar for consumers and businesses.

D. The board must announce and publish:

(1) before July 1 of each year in which adjustments are made, the adjustments in dollar amounts required by item B; and

(2) promptly after the changes occur, changes in the index required by item C, including, if applicable, the numerical equivalent of the reference base index under a revised reference base index and the designation or title of the index superseding the index.

Notes

Minn. R. agency 120, ch. 2890, pt. 2890.1900

28 SR 383

Statutory Authority: MS s 115C.07