1.1 	A bill for an act
1.2 	relating to commerce; establishing a task force on homeowners and commercial 
1.3 	property insurance; appropriating money; requiring a report.
1.4 	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

1.5 	Section 1. TASK FORCE ON HOMEOWNERS AND COMMERCIAL PROPERTY 
1.6 	INSURANCE.
 1.7 		Subdivision 1.Establishment. A task force is established to evaluate issues and provide 
1.8 	recommendations relating to insurance affordability with respect to single-family housing, 
1.9 	multifamily rental housing, common interest communities, cooperatives, and small 
1.10 	businesses, and preventing disruptions or loss to the development, preservation, and long-term 
1.11 	sustainability of Minnesota's housing infrastructure and small businesses.
1.12 		Subd. 2.Membership. (a) The task force consists of the following:
1.13 	(1) one member appointed by the commissioner of commerce;
1.14 	(2) one member appointed by the speaker of the house;
1.15 	(3) one member appointed by the house minority leader;
1.16 	(4) one member appointed by the senate majority leader;
1.17 	(5) one member appointed by the senate minority leader;
1.18 	(6) one member appointed by the Minnesota Consortium of Community Developers;
1.19 	(7) one representative appointed by the Insurance Federation of Minnesota;
1.20 	(8) one representative appointed by Big I Minnesota;
2.1 	(9) one representative appointed by the Minnesota Realtors;
2.2 	(10) one member appointed by the Minnesota Community Development Financial 
2.3 	Institutions Coalition;
2.4 	(11) one member appointed by the Minnesota Homeownership Center;
2.5 	(12) one member appointed by the Housing Justice Center; and
2.6 	(13) one member with climate science expertise.
2.7 	(b) The appointing authorities must make the appointments by August 15, 2025.
2.8 		Subd. 3.Duties. (a) The task force must identify recommendations to strengthen and 
2.9 	stabilize the homeowners and commercial property insurance industry.
2.10 	(b) The task force must consult with the commissioner of the Housing Finance Agency, 
2.11 	the commissioner of employment and economic development, and key stakeholders in the 
2.12 	insurance and housing industries.
2.13 	(c) The task force must review:
2.14 	(1) risk mitigation and property resilience to natural hazards, and the relationship with 
2.15 	insurance costs;
2.16 	(2) liability laws impacting insurance costs;
2.17 	(3) minimum notice for coverage changes, including enforcement and oversight;
2.18 	(4) public reporting of aggregated data relating to insurance plan costs and coverage;
2.19 	(5) the reinsurance market for homeowners and commercial property insurance;
2.20 	(6) the current state-supported insurance program and the potential to expand the program 
2.21 	to include a catastrophic reinsurance fund and a self-insured pool;
2.22 	(7) factors that increase claim costs, including but not limited to post-loss contractors, 
2.23 	fraudulent claims, climate, inflation, and discontinued building materials; and
2.24 	(8) other areas that would strengthen and stabilize the homeowners and commercial 
2.25 	property insurance industry.
2.26 		Subd. 4.Administration. The Legislative Coordinating Commission must provide 
2.27 	administrative support to the task force. Upon request of the task force, the commissioners 
2.28 	of commerce, the Housing Finance Agency, and employment and economic development 
2.29 	must provide technical support and expertise.
3.1 		Subd. 5.Meetings. (a) The Legislative Coordinating Commission must ensure the first 
3.2 	meeting of the task force convenes no later than September 15, 2025, and must provide 
3.3 	accessible physical or virtual meeting space as necessary for the task force to conduct work.
3.4 	(b) At the first meeting, the task force must elect a chair or cochairs from those appointed 
3.5 	by the house and senate by a majority vote of those members present and may elect a 
3.6 	vice-chair as necessary.
3.7 	(c) The task force must establish a schedule for meetings and must meet as necessary 
3.8 	to accomplish the duties under subdivision 3.
3.9 	(d) The task force is subject to Minnesota Statutes, chapter 13D.
3.10 		Subd. 6.Report required. (a) The task force must submit a report to the commissioners 
3.11 	of the Department of Commerce, Minnesota Housing, and the Department of Employment 
3.12 	and Economic Development, and the chairs and ranking minority members of the legislative 
3.13 	committees having jurisdiction over the agencies listed in this paragraph by February 15, 
3.14 	2026.
3.15 	(b) The report must:
3.16 	(1) summarize the activities of the task force;
3.17 	(2) provide findings and recommendations adopted by the task force;
3.18 	(3) include any draft legislation required to implement recommendations; and
3.19 	(4) include other information the task force believes is necessary to report.
3.20 		Subd. 7.Expiration. The task force expires upon submission of the final report required 
3.21 	under subdivision 6.

3.22 	EFFECTIVE DATE. This section is effective the day following final enactment.

3.23 	Sec. 2. APPROPRIATION; TASK FORCE ON HOMEOWNERS AND 
3.24 	COMMERCIAL PROPERTY INSURANCE.
 3.25 	$200,000 in fiscal year 2025 is appropriated from the general fund to the Legislative 
3.26 	Coordinating Commission to provide administrative support to the task force. This is a 
3.27 	onetime appropriation and is available until June 30, 2026.

3.28 	EFFECTIVE DATE. This section is effective the day following final enactment.