HF 2429

as introduced - 93rd Legislature (2023 - 2024) Posted on 03/06/2023 07:18pm

A bill for an act
relating to financial institutions; requiring financial institutions to annually submit
a climate risk disclosure survey; proposing coding for new law in Minnesota
Statutes, chapters 48; 52.

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

Section 1.

new text begin [48.591] CLIMATE RISK DISCLOSURE SURVEY.
new text end

new text begin Subdivision 1. new text end

new text begin Requirement. new text end

new text begin By January 1 each year, a banking institution with more
than $500,000,000 in assets must submit a completed climate risk disclosure survey to the
commissioner. The commissioner must provide the form used to submit a climate risk
disclosure survey.
new text end

new text begin Subd. 2. new text end

new text begin Data. new text end

new text begin Data submitted to the commissioner under this section are public, except
that trade secret information is nonpublic under section 13.37.
new text end

Sec. 2.

new text begin [52.065] CLIMATE RISK DISCLOSURE SURVEY.
new text end

new text begin Subdivision 1. new text end

new text begin Requirement. new text end

new text begin By January 1 each year, a credit union with more than
$500,000,000 in assets must submit a completed climate risk disclosure survey to the
commissioner. The commissioner must provide the form used to submit a climate risk
disclosure survey.
new text end

new text begin Subd. 2. new text end

new text begin Data. new text end

new text begin Data submitted to the commissioner under this section are public, except
that trade secret information is nonpublic under section 13.37.
new text end