HF 2398 Minnesota House · 2025-2026 Regular Session

Technical and housekeeping changes made to various provisions governing or administered by the Department of Commerce, and administrative rulemaking authorized.

HF 2398 makes technical and administrative updates to several Minnesota statutes governing the Department of Commerce, focusing on clarifying existing rules rather than creating new policies. It adjusts the technology surcharge for licenses requiring continuing education (capping it at $40 per two-year period and requiring fund balance adjustments to stay under $2 million), clarifies notice requirements for financial institutions when transferring or closing deposit accounts (mandating 30 days' notice except in fraud cases), and authorizes the Department to use administrative rules to manage permissible investments for money transmission companies. These changes aim to improve regulatory clarity and efficiency for licensees, financial institutions, and money transmission companies. The bill does not introduce new substantive requirements but streamlines existing administrative processes.
Bill status in committee 1 of 4 stages cleared
Introduction
Mar 2025
Committee Review
Floor Vote
Governor
Introduced Mar 17, 2025 Last action Mar 17, 2025
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Mar 17, 2025
Introduced
Introduction and first reading, referred to Commerce Finance and Policy
lower
1 primary · 0 co-sponsors

Sponsors

Role
Legislator
Party
State
District
P
Photo of Kaohly Her
Kaohly Her
DDemocratic-Farmer-Labor
MN
64A