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Committee actions: summaries and committee referrals for bills heard in the Commerce committee
Summary
The Committee on Commerce and Consumer Protection considered several bills and amendments. This roundup lists each bill, brief description, committee action and next committee referral where applicable.
The Senate Committee on Commerce and Consumer Protection heard multiple bills and amendments. Below is a concise summary of committee actions recorded in the transcript and the next procedural steps where stated.
Senate File 2,822 — Mortgage- and foreclosure-technical changes: Testimony from the Minnesota Bankers Association explained narrow technical corrections to mortgage statutes and an allowance for electronic notice in foreclosure when agreed to in writing. Action: Laid over (no final committee recommendation recorded in transcript).
Senate File 2,794 — Department of Commerce policy bill (mortgage indexing and NAIC conformity): The bill replaces the prior benchmark index with the Average Prime Offer Rate (APOR) for certain mortgage-rate calculations…
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