HF2706 Summary

• Reduces annual transfer from automobile theft prevention account to general fund from $1,300,000 to $650,000, effective July 1, 2012

• Requires commissioner of public safety to receive $325,000 annually from automobile theft prevention account starting fiscal year 2013 for grants under financial crimes programs

• Mandates at least $325,000 yearly from automobile theft prevention account be allocated for grants to reduce financial crimes including theft from motor vehicles, loan fraud, check forgery, insurance fraud, credit card fraud, and identity theft

• Expands financial crimes grant programs to include motor vehicle theft, mail theft and fraud, financial transaction card fraud, possession of stolen property, insurance fraud, and theft by swindle

• Adds Insurance Federation of Minnesota representative to the Automobile Theft Prevention Advisory Board membership, increasing total board positions from 15 to 16