summary
Introduced
06/09/2025
06/09/2025
In Committee
Crossed Over
Passed
Dead
06/10/2024
06/10/2024
Introduced Session
94th Legislature 2025 1st Special Session
Bill Summary
A bill for an act relating to commerce; establishing a budget for the Department of Commerce; appropriating and transferring money for other commerce and Office of Cannabis Management activities; adding, modifying, and eliminating various provisions governing financial institutions, insurance, insurance holding companies, Medicare supplement insurance, reinsurance, and commerce and consumer protection policy; modifying certain fees; authorizing administrative rulemaking; classifying certain data; requiring reports; making technical and conforming changes; amending Minnesota Statutes 2024, sections 41A.09, subdivision 2a; 45.027, subdivisions 1, 2, by adding a subdivision; 45.24; 46A.04; 47.20, subdivisions 2, 4a, 8; 47.77; 53B.61; 55.07, by adding a subdivision; 58B.02, subdivision 8a; 60A.052, subdivision 1; 60A.201, subdivision 2, by adding a subdivision; 60D.09, by adding a subdivision; 60D.15, subdivisions 4, 7, by adding subdivisions; 60D.16, subdivision 2; 60D.17, subdivision 1; 60D.18, subdivision 3; 60D.19, subdivision 4, by adding subdivisions; 60D.20, subdivision 1; 60D.217; 60D.22, subdivisions 1, 3, 6, by adding a subdivision; 60D.24, subdivision 2; 60D.25; 62A.31, subdivisions 1b, 1f, 1h, 1p, 1r, 1u, 4; 62A.44, subdivision 2; 62A.65, subdivisions 1, 2, by adding a subdivision; 62D.12, subdivisions 2, 2a; 62D.121, subdivision 1; 62D.221, by adding a subdivision; 62E.21, by adding subdivisions; 62E.23, subdivisions 2, 3, by adding subdivisions; 62E.24, subdivisions 1, 2; 62E.25, subdivision 1; 62J.26, subdivision 3, by adding a subdivision; 62Q.73, subdivision 4; 62V.06, subdivision 5; 65B.02, subdivision 7; 65B.05; 65B.06, subdivisions 1, 2, 3; 65B.10, subdivision 2; 72A.20, by adding a subdivision; 80A.58; 80A.65, subdivision 2, by adding a subdivision; 80A.66; 80E.12; 82.63, subdivision 2; 82B.19, subdivision 5; 168.27, by adding a subdivision; 216B.40; 216B.62, by adding a subdivision; 239.761, subdivisions 3, 4, 5, 6; 239.791, subdivision 11; 296A.01, subdivisions 20, 23, 24; 297I.20, by adding a subdivision; 297I.40, by adding a subdivision; 325E.3892, subdivisions 1, 2; 325F.072, subdivision 3; 325G.24, subdivision 2; 334.01, subdivision 2; 550.136, subdivision 3; 551.06, subdivision 3; 571.922; Laws 2023, chapter 63, article 9, section 5; proposing coding for new law in Minnesota Statutes, chapters 45; 60D; 216B; 237; 239; 325F; repealing Laws 2023, chapter 57, article 2, sections 13, as amended; 66, as amended. 1
AI Summary
This bill provides a comprehensive omnibus update to various commerce and consumer protection policies in Minnesota. Here's a summary of the key provisions:
This bill covers multiple areas of commerce and consumer protection, with significant appropriations and policy changes across several sectors. The bill includes appropriations for the Department of Commerce totaling $42,318,000 in fiscal year 2026 and $42,905,000 in fiscal year 2027, with funding allocated to various divisions including Financial Institutions, Administrative Services, Enforcement, Telecommunications, Insurance, and Weights and Measures. The Office of Cannabis Management is also appropriated $33,443,000 in fiscal year 2026 and $36,350,000 in fiscal year 2027, with funds designated for industry community renewal grants and other operational expenses.
Key policy changes include:
1. Financial Institutions: Modifications to investment adviser regulations, including new filing requirements and fees for private fund advisers.
2. Insurance: Significant updates to Medicare supplement insurance, including changes to preexisting condition coverage, guaranteed renewal provisions, and premium rate calculations.
3. Insurance Holding Company Systems: New requirements for group capital calculations and liquidity stress testing for insurance companies.
4. Consumer Protection: New provisions for electric vehicle charging equipment regulations, restrictions on lead and cadmium in consumer products, and requirements for water availability at entertainment venues.
5. Telecommunications: Establishing a process for telecommunications carriers to transition services in areas with alternative providers.
6. Reinsurance: Creating a new assessment mechanism for group health carriers to support the Minnesota Premium Security Plan.
The bill also includes various technical corrections, fee adjustments, and administrative changes across multiple state agencies and regulatory frameworks. It reflects a comprehensive approach to updating and improving Minnesota's commercial and consumer protection landscape.
Sponsors (1)
Last Action
Laid on table (on 06/09/2025)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.revisor.mn.gov/bills/bill.php?b=Senate&f=SF0004&ssn=1&y=2025 |
| BillText | https://www.revisor.mn.gov/bills/text.php?number=SF4&version=0&session=ls94&session_year=2025&session_number=1&format=pdf |
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