Bill > SF2205

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.

Business and Industry, Government Affairs, Housing and Urban Affairs

https://www.revisor.mn.gov/bills/bill.php?b=Senate&f=SF2205&ssn=0&y=2025