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House committee hears bill to create consumer fraud restitution fund, adopts amendment and lays bill over
Summary
Lawmakers and testifiers described a proposed Consumer Fraud Restitution Fund that would divert up to $5 million a year from certain civil recoveries to pay restitution to defrauded Minnesotans; committee adopted an A3 amendment capping annual deposits at $5 million and laid the bill over for possible omnibus inclusion.
A Minnesota House Commerce Committee on March 19 heard testimony on House File 1392, legislation from Rep. Liz Lee to create a consumer fraud restitution fund that would pay restitution to victims when a court has ordered restitution but the defendant is insolvent.
The bill, as amended by an adopted A3 amendment, would direct 50 percent of non-restitution civil recoveries (civil penalties, attorneys’ fees and similar amounts that currently flow to the state general fund) into a dedicated fund, up to $5,000,000 per fiscal year. Representative Liz Lee, the bill’s author, and AARP Minnesota testified in favor of the proposal.
The measure’s backers said the fund aims to encourage reporting of fraud, give the attorney general additional incentive to bring…
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