A new bill introduced today by State Senator Julie Rosen (R-Vernon Center) aims to pay back Vikings stadium debts ahead of schedule and prevent the stadium reserve account from being used for projects unrelated to the stadium.

The U.S. Bank Stadium Reserve Account is projected to grow significantly (pg. 8) in the next three years, from about $62 million currently to nearly $250 million by 2023. The account requires a balance of roughly $40 million in order to cover stadium rent and operating expenses for a given year.

That rapid growth leaves the account vulnerable to raiding by the Legislature. Senator Rosen’s plan would secure the account, protect it from becoming a slush fund, and use excess money to pay down stadium debt ahead of schedule.

“We have all seen how legislators’ eyes light up when they see a new pot of money they can spend,” said Sen. Rosen, the chair of the Senate Finance Committee and author of the Vikings Stadium bill. “We can’t let that happen to the stadium reserve. This account has a very clear and specific intended purpose, and the public expects us to make sure it is used for that purpose only. Any additional money in the stadium reserve must be used to pay back stadium debts early. It’s the smart thing to do. It’s the right thing to do.”

Independent analysis shows Minnesota could save roughly $200 million under Senator Rosen’s proposal.