HF 762

as introduced - 92nd Legislature (2021 - 2022) Posted on 02/11/2022 11:34am

A bill for an act
relating to labor and industry; prohibiting transfer of funds from the contractor
recovery fund outside of stated purpose; amending Minnesota Statutes 2020, section
326B.89, subdivision 4.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1.

Minnesota Statutes 2020, section 326B.89, subdivision 4, is amended to read:

Subd. 4.

Purpose of fund.

new text begin (a) new text end The purpose of this fund is to:

(1) compensate owners or lessees of residential real estate who meet the requirements
of this section;

(2) reimburse the department for all legal and administrative expenses, disbursements,
and costs, including staffing costs, incurred in administering and defending the fund;

(3) pay for educational or research projects in the field of residential contracting to
further the purposes of sections 326B.801 to 326B.825; and

(4) provide information to the public on residential contracting issues.

new text begin (b) No money from this fund may be transferred or spent unless the commissioner
determines that the money is being transferred or spent for one of the purposes in paragraph
(a).
new text end