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Bill > SF2205


MN SF2205

Task force on homeowners and commercial property insurance establishment


summary

Introduced
03/06/2025
In Committee
04/07/2025
Crossed Over
Passed
Dead

Introduced Session

94th Legislature 2025-2026

Bill Summary

A bill for an act relating to commerce; establishing a task force on homeowners and commercial property insurance; appropriating money; requiring a report.

AI Summary

This bill establishes a task force to evaluate and provide recommendations on homeowners and commercial property insurance affordability and sustainability in Minnesota. The task force will consist of 13 members appointed by various organizations and legislative leaders, including representatives from commerce, housing, insurance, and real estate sectors. The group will be charged with identifying ways to strengthen and stabilize the insurance industry by examining issues such as risk mitigation, natural hazard resilience, liability laws, insurance cost transparency, reinsurance markets, and factors that increase claim costs like climate change and inflation. The task force must hold its first meeting by September 15, 2025, elect leadership, and develop a meeting schedule. By February 15, 2026, they are required to submit a comprehensive report to relevant state commissioners and legislative committees, including their findings, recommendations, and potential draft legislation. The task force will be provided $200,000 in administrative funding and will automatically expire after submitting its report. The goal is to address challenges in the insurance market that impact housing and small business infrastructure in Minnesota.

Committee Categories

Business and Industry, Government Affairs, Housing and Urban Affairs

Sponsors (5)

Last Action

Comm report: To pass and re-referred to Housing and Homelessness Prevention (on 04/07/2025)

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