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MN HF1646

MN HF1646
Definition of debt buyer modified, Undue Medical Debt grant funding provided, reports required, and money appropriated.


summary

Introduced
02/27/2025
In Committee
02/27/2025
Crossed Over
Passed
Dead

Introduced Session

94th Legislature 2025-2026

Bill Summary

A bill for an act relating to commerce; modifying the definition of debt buyer; appropriating money for a grant to Undue Medical Debt; requiring reports; amending Minnesota Statutes 2024, section 332.31, subdivision 8.

AI Summary

This bill makes two main changes: first, it modifies the legal definition of a "debt buyer" in Minnesota statutes to exclude nonprofit organizations that purchase charged-off accounts or medical debts for charitable purposes, which clarifies and narrows the existing definition. Second, the bill appropriates $5 million in fiscal year 2026 to the commissioner of commerce specifically to provide a grant to Undue Medical Debt, a nonprofit organization, to help relieve medical debts for eligible Minnesota residents who have been unable to pay their medical bills after reasonable collection efforts have been exhausted. The appropriation is a one-time funding allocation available until June 30, 2028, and requires Undue Medical Debt to provide the commissioner of commerce and the attorney general with detailed information about the characteristics and number of residents whose medical debts are relieved through this grant. The bill's provisions become effective the day after final enactment, allowing for relatively quick implementation of the medical debt relief program.

Committee Categories

Business and Industry

Sponsors (25)

Last Action

Author added Finke (on 04/10/2025)

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