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S.F. No. 2474 - Commerce Appropriations - The First Engrossment
Author: Senator Gary H. Dahms
Prepared By: Christopher B. Stang, Senate Counsel (651/296-0539)
Date: April 8, 2019


Article 1 - Appropriations

Section 1 states that all appropriations in this article are from the general fund unless otherwise specified.

Section 2, subdivision 1, contains the total appropriation for the DOC accounts funded by this bill by fund.

Subdivision 2 appropriates $7,397,000 in fiscal year 2020 and $7,399,000 in fiscal year 2021 for administrative services. Includes money for broadband development and unclaimed property compliance. Includes $5,000 each year for Real Estate Appraisal Advisory board per diem (see Article 3, section 3).

Subdivision 3 appropriates $5,577,000 in fiscal year 2020 and $5,607,000 in fiscal year 2021 from the general fund for enforcement activities.  Also appropriates $200,000 in each year from the workers’ compensation fund for enforcement activities. Includes money for health care enforcement.

Subdivision 4 appropriates $4,474,000 in fiscal year 2020 and $4,444,000 in fiscal year 2021 for insurance regulation. Also appropriates $558,000 in fiscal year 2020 and $559,000 in fiscal year 2021 from the workers compensation fund for insurance regulation. Includes money for health insurance rate review, actuarial work, and for National Conference of Insurance Legislators dues.

Article 2 - Commerce

Section 1 adds fees from money transmitters and mortgage loan originators to the financial institutions account.

Section 2 limits assessments for examinations for financial institutions for a fiscal period from exceeding 100% of the assessments levied for a preceding fiscal year.

Article 3 – Real Estate Appraiser Regulations

Sections 1, 2, and 4 are technical updates.

Section 3 authorizes per diem compensation for members of the Real Estate Appraisal Advisory Board under section 15.059.

Section 5 provides that the requirements to obtain specified appraiser licenses are those of the Appraiser Qualifications Board of the Appraisal Foundation.

Section 6 denotes the scope of practice for a trainee real property appraiser.

Section 7 removes language related to a federally-related transaction for purposes of qualifying for a license for temporary practice.

Section 8 is a conforming change.

Section 9 removes an obligation to disclose whether the appraiser has previously been to the property.

Section 10 deletes references to performance of limited appraisal for classification of services.

Section 11 repeals current real estate appraiser statutes that relate to subjects otherwise addressed in this bill.

Section 12 makes the article effective January 1, 2020.

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