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Minnesota Legislature

Office of the Revisor of Statutes

SF 2556

1st Engrossment - 90th Legislature (2017 - 2018) Posted on 05/14/2018 05:18pm

KEY: stricken = removed, old language.
underscored = added, new language.

Current Version - 1st Engrossment

Line numbers 1.1 1.2 1.3 1.4 1.5
1.6 1.7 1.8 1.9 1.10 1.11 1.12 1.13 1.14 1.15

A bill for an act
relating to financial institutions; regulating health savings and medical savings
accounts; providing asset protection;amending Minnesota Statutes 2016, section
550.37, by adding a subdivision.

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

Section 1.

Minnesota Statutes 2016, section 550.37, is amended by adding a subdivision
to read:


new text begin Subd. 26. new text end

new text begin Health savings accounts; medical savings accounts. new text end

new text begin (a) All money held in
a health savings account, as defined in the Internal Revenue Code of 1986, section 223(d),
as amended, up to a present value of $25,000.
new text end

new text begin (b) All money held in a medical savings account, as defined in the Internal Revenue
Code of 1986, section 220(d)(1), as amended, up to a present value of $25,000.
new text end

new text begin (c) The exemptions in paragraphs (a) and (b) do not apply pursuant to the division of
marital assets under section 518.58, a surviving spouse benefit under section 518.581, and
a support order under section 518A.53.
new text end