HF 1749

as introduced - 93rd Legislature (2023 - 2024) Posted on 03/04/2024 04:27pm

A bill for an act
relating to certified public accountants; amending standards for required education
and experience; amending Minnesota Statutes 2022, section 326A.03, subdivisions
3a, 6.

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

Section 1.

Minnesota Statutes 2022, section 326A.03, subdivision 3a, is amended to read:

Subd. 3a.

Early examination.

Notwithstanding any contrary provision in this section,
the board may adopt rules to permit a person under certain circumstances:

(1) to apply for the examination within 180 days prior to the person's anticipated
completion of the education requirements new text begin as defined in subdivision 6 new text end ; and

(2) to take all or a part of the examination within 90 days of the anticipated completion
of the education requirements. No credit shall be given for any part of the examination taken
before completion of the education requirements in subdivision 3 unless:

(i) the education requirements in subdivision 3 and adopted rule requirements are met
within 120 days after taking any part of the examination; and

(ii) documentation of completion of education requirements is received by the board
within 150 days of the person taking any part of the examination.

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective July 1, 2023.
new text end

Sec. 2.

Minnesota Statutes 2022, section 326A.03, subdivision 6, is amended to read:

Subd. 6.

Certificate; required education and experience.

(a) On or after July 1, deleted text begin 2006 deleted text end new text begin
2023 new text end , a person who has passed the examination required in this section must be granted a
certificate as a certified public accountant provided new text begin the person provides one of the following
certifications; the board verifies the certification; and the person complies with requirements
for initial issuance of the certificate as a certified public accountant as prescribed by the
board by rule new text end :

(1) the person certifies to the board that the person has completed at least 150 semester
or 225 quarter hours at a college or university that is fully accredited by a recognized
accrediting agency listed with the United States Department of Education, or an equivalent
accrediting association, and has completed at least one year of experience of the type
specified in paragraph (b);

(2) deleted text begin the board verifies the certifications; and (3) the person complies with requirements
for initial issuance of the certificate as a certified public accountant as prescribed by the
board by rule. deleted text end new text begin the person certifies to the board that the person has completed at least 120
semester or 180 quarter hours at a college or university that is fully accredited by a recognized
accrediting agency listed with the United States Department of Education, or an equivalent
accrediting association, and has completed at least two years of experience of the type
specified in paragraph (b); or
new text end

new text begin (3) the person certifies to the board that the person has completed 120 semester or 180
quarter hours at a college or university that is fully accredited by a recognized accrediting
agency listed with the United States Department of Education, or an equivalent accrediting
association, and has completed at least one year of experience of the type specified in
paragraph (b), and completed 120 hours of professional education within one year of applying
for licensure as provided for in 326A.04, subdivision 4. Professional education hours
completed under this clause must be taken by a provider accredited by the National
Association of State Boards of Accountancy or as defined in board rules for professional
education and shall not qualify to meet professional education hours required after initial
licensure.
new text end

(b) An applicant for initial issuance of a certificate under this subdivision shall deleted text begin show
that the applicant has had one year of deleted text end new text begin meet the new text end experience new text begin requirements as defined in
paragraph (a), clause (1), (2), or (3) new text end . Acceptable experience includes providing any type of
service or advice involving the use of accounting, attest, compilation, management advisory,
financial advisory, tax, or consulting skills, as verified by a licensee and meeting requirements
prescribed by the board by rule. Acceptable experience may be gained through employment
in government, industry, academia, or public practice. Experience as an auditor in the Office
of the Legislative Auditor or State Auditor, as verified by a licensee, shall be acceptable
experience.

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective July 1, 2023.
new text end