MN SF3355

Modifies the annual fee for redeemable securities issued by open-end management companies and unit investment trusts from 1/20 of one percent to one-tenth of one percent of the maximum aggregate offering price in Minnesota.

Changes the fee calculation for amended notice filings of additional shares from 1/20 to one-tenth of one percent of the maximum aggregate offering price.

Clarifies that fees collected under these securities registration provisions are exempted under Minnesota Statutes section 16A.1285, subdivision 2.

Appropriates $23,000,000 in fiscal year 2011 from the general fund to the Minnesota Office of Higher Education for need-based grants through the state grant program.