MN HF4407

Amends Minnesota Statutes 2017 Supplement, section 46.131, subdivision 11, to expand the sources of funding for the financial institutions account in the special revenue fund.

The account receives funds from assessments under subdivision 7, examination fees under subdivision 8, and proceeds from 30 additional statutory provisions related to financial institution regulation and licensing.

Account funds include earnings such as interest, dividends, and other income from account assets, which must be credited to the account.

Funds in the account are annually appropriated to the commissioner of commerce for activities related to financial institution oversight and regulation.

The amendment becomes effective July 1, 2019.