HF2442

HF2442 (Legislative Session 94 (2025-2026))

Petroleum Tank Release Compensation Board funding provided, and money appropriated.

Related bill: SF2393

AI Generated Summary

Purpose of the Bill

The purpose of this bill is to establish a biennial (two-year) budget for Minnesota's commerce and energy sectors and make changes to various existing provisions related to small consumer loans, renewable energy, cannabis licenses, and more. The bill also includes provisions for new appropriations to several departments and introduces new regulations and requirements, such as those for electric vehicle supply installations and health care benefits.

Main Provisions

Budget Appropriations: The bill sets out specific appropriations for the Department of Commerce and other relevant agencies for the fiscal years 2026 and 2027.
Consumer Loans: Modifications are made to the rules around consumer small loans, which may include interest rates and lending practices.
Premium Security Plan: Changes are made to the Minnesota premium security plan, potentially affecting health insurance coverage and market stability.
Renewable Energy and Efficiency: Updates provisions governing renewable energy sources and implements new guidelines for energy conservation and efficiency.
Electric Vehicle Supply Equipment: Establishes new regulations for businesses and retailers regarding the installation and operation of electric vehicle charging stations.
Cannabis Industry Revitalization: Allocates funds for cannabis industry community renewal grants and the CanGrow loan program to support industry growth and sustainability.
Health Benefits: Initiates the creation of new positions and offices to ensure better oversight of health plans and their compliance with state laws, including mental health parity and the evaluation of mandated health benefits.

Significant Changes

Consumer Protection and Financial Inclusion: The bill funds programs to help low-income populations with financial stability, including savings and credit building.
Cybersecurity Upgrades: Provides funding for cybersecurity and system modernization efforts in the Department of Commerce.
Worker Protection: Enhancements are introduced for the oversight of worker benefits, such as workers' compensation and family medical benefits.
Law Enforcement: Additional funds are allocated for peace officers and fraud prevention.

Relevant Terms

Appropriations
Consumer small loans
Renewable energy
Electric vehicle supply equipment
Cannabis licenses
Premium security plan
Financial inclusion
Cybersecurity
Workers compensation
Health plan compliance

Bill text versions

Introduction PDF file
1st Engrossment PDF file

Past committee meetings

Ways and Means on: April 23, 2025 00:30
Ways and Means on: April 23, 2025 12:30
Ways and Means on: April 24, 2025 12:30
Ways and Means on: May 02, 2025 11:00

Actions

Date	Chamber	Where	Type	Name	Committee Name
March 16, 2025	House	Floor	Action	Introduction and first reading, referred to	Energy Finance and Policy
April 20, 2025	House	Floor	Action	Committee report, to adopt as amended and re-refer to	Ways and Means
April 20, 2025	House	Floor	Action	Committee report, to adopt as amended and re-refer to	Ways and Means

Citations

[
  {
    "analysis": {
      "added": [
        "A new subdivision related to loan terms."
      ],
      "removed": [],
      "summary": "Modifying provisions governing consumer small loans and lending under section 47.60.",
      "modified": [
        "Adjustments to interest rate cap and disclosure requirements."
      ]
    },
    "citation": "47.60",
    "subdivision": "subdivisions 1, 3, 4, 5, 8"
  },
  {
    "analysis": {
      "added": [
        "Clarification on digital services provision."
      ],
      "removed": [],
      "summary": "Adjustments to provisions concerning financial institution operations.",
      "modified": [
        "Updating compliance reporting requirements."
      ]
    },
    "citation": "47.601",
    "subdivision": "subdivisions 1, 5a, 7"
  },
  {
    "analysis": {
      "added": [
        "Details on underwriting standards clarified."
      ],
      "removed": [],
      "summary": "Amending provisions of the Minnesota premium security plan.",
      "modified": []
    },
    "citation": "62E.21",
    "subdivision": "by adding a subdivision"
  },
  {
    "analysis": {
      "added": [
        "Inclusion of mental health coverage under regulation."
      ],
      "removed": [],
      "summary": "Adjustments to premium rates and conditions.",
      "modified": [
        "Rate review procedures clarified."
      ]
    },
    "citation": "62E.23",
    "subdivision": "subdivisions 1, 2, 3"
  },
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "Modifications in the application of insurance protections.",
      "modified": [
        "Provisions for consumer notification updated."
      ]
    },
    "citation": "62E.24",
    "subdivision": "subdivisions 1, 2"
  },
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "Changes to the assessment of premiums.",
      "modified": [
        "Terms of premium obligation clarified."
      ]
    },
    "citation": "62E.25",
    "subdivision": "subdivision 1"
  },
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "Revisions related to security regulations.",
      "modified": [
        "Clarifications on trading restrictions."
      ]
    },
    "citation": "80A.58",
    "subdivision": ""
  },
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "Provisions involving transfers to the insurance fraud prevention account.",
      "modified": [
        "Clarified procedural requirements for transfers."
      ]
    },
    "citation": "45.0135",
    "subdivision": "subdivision 6"
  },
  {
    "analysis": {
      "added": [
        "Position responsibilities outlined."
      ],
      "removed": [],
      "summary": "Creation of a student loan advocate position.",
      "modified": []
    },
    "citation": "58B.011",
    "subdivision": ""
  },
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "Establishment of the Prescription Drug Affordability Board.",
      "modified": [
        "Board's operational guidelines clarified."
      ]
    },
    "citation": "62J.87",
    "subdivision": ""
  },
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "Report on intermediate blends of gasoline and biofuels.",
      "modified": [
        "Frequency of reporting updated."
      ]
    },
    "citation": "239.791",
    "subdivision": "subdivision 8"
  },
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "Provisions for telecommunications access funding.",
      "modified": [
        "Adjustments to funding allocation procedures."
      ]
    },
    "citation": "237.52",
    "subdivision": "subdivision 1"
  },
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "Procedures related to financial transfers and appropriations.",
      "modified": [
        "Clarified guidelines for fund transfers."
      ]
    },
    "citation": "16A.281",
    "subdivision": ""
  },
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "Evaluation of new mandated health benefits.",
      "modified": [
        "Procedures for health benefit evaluation updated."
      ]
    },
    "citation": "62J.26",
    "subdivision": ""
  },
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "Compliance requirements for health plan companies.",
      "modified": [
        "Updated the compliance assessment criteria."
      ]
    },
    "citation": "62Q.47",
    "subdivision": "paragraph h"
  }
]