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SF 3432

as introduced - 91st Legislature (2019 - 2020) Posted on 02/20/2020 03:36pm

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

Current Version - as introduced

Line numbers 1.1 1.2 1.3 1.4 1.5
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2.3

A bill for an act
relating to commerce; providing additional funding for the financial institutions
account; amending Minnesota Statutes 2019 Supplement, section 46.131,
subdivision 11.

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

Section 1.

Minnesota Statutes 2019 Supplement, section 46.131, subdivision 11, is amended
to read:


Subd. 11.

Financial institutions account; appropriation.

(a) The financial institutions
account is created as a separate account in the special revenue fund. Earnings, including
interest, dividends, and any other earnings arising from account assets, must be credited to
the account.

(b) The account consists of funds received from assessments under subdivision 7,
examination fees under subdivision 8, and funds received pursuant to subdivision 10 and
deleted text begin the following provisionsdeleted text end: sectionsnew text begin 46.041, subdivision 1; 46.048, subdivision 1; 47.101,
subdivision 3; 47.54, subdivision 1; 47.60, subdivision 3; 47.62, subdivision 4; 47.65,
subdivision 2; 48.36, subdivision 2; 48.61, subdivision 7; 48A.01, subdivision 1; 48A.14,
subdivision 1; 48A.17; 48A.18; 48A.19; 49.36, subdivision 1; 50.001; 52.01; 52.203; 53.03,
subdivisions 1, 5, and 6; 53A.03, paragraph (b); 53A.05, subdivision 1; 53A.07, subdivision
2;
new text end 53B.09; 53B.11, subdivision 1;new text begin 53C.02, paragraph (c); 55.04, subdivision 2; 55.041;
56.02; 56.04; 56.08; 56.10, subdivision 1;
new text end 58A.045, subdivision 2; deleted text beginanddeleted text endnew text begin 59A.03, subdivision
2;
new text end 216C.437, subdivision 12new text begin; 332.30, paragraph (a); 332.54, subdivision 7; 332A.04,
subdivision 3; 332A.06; and 332B.04, subdivisions 3 and 6
new text end.

(c) Funds in the account are annually appropriated to the commissioner of commerce
for activities under this section.

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective July 1, 2020.
new text end