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Department of Commerce outlines technical and model-law changes in HF 2,403 policy omnibus; committee lays bill over for markup
Summary
The Department of Commerce testified in support of the Commerce Committee’s policy omnibus, House File 2,403, outlining changes ranging from mortgage indexing and insurance model acts to data-call protections and updates to financial and trade provisions. The committee laid the DE amendment over for member questions and markup at a later meeting.
Chair O'Driscoll moved House File 2,403 before the committee on April 2 and opened the DE amendment for public testimony and a nonpartisan walk-through.
Sam Smith, Government Affairs Director for the Minnesota Department of Commerce, testified in support of HF 2,403, saying the omnibus contains multiple Department priorities, including changes to mortgage indexing, adoption of NAIC model laws for limited long-term care and group capital/liquidity, and updated statutory references for insurance and banking matters. "Key items in this legislation include…
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