Minnesota SF1347 modifies the definition of a debt buyer and appropriates $5 million for medical debt relief.

Minnesota SF1347 amends the definition of a debt buyer to exclude nonprofit organizations purchasing charged-off accounts for charitable purposes. The bill also appropriates $5 million in fiscal year 2026 from the general fund to the commissioner of commerce for a grant to Undue Medical Debt. This grant aims to relieve the medical debt of eligible residents who were unable to pay after hospital collections efforts. The appropriation is a onetime fund available until June 30, 2028. Undue Medical Debt must report on the number and characteristics of residents whose medical debts were relieved.

Minnesota SF1347 modifies the definition of a debt buyer and appropriates $5 million for medical debt relief.

Minnesota SF1347 amends the definition of a debt buyer to exclude nonprofit organizations purchasing charged-off accounts for charitable purposes. The bill also appropriates $5 million in fiscal year 2026 from the general fund to the commissioner of commerce for a grant to Undue Medical Debt. This grant aims to relieve the medical debt of eligible residents who were unable to pay after hospital collections efforts. The appropriation is a onetime fund available until June 30, 2028. Undue Medical Debt must report on the number and characteristics of residents whose medical debts were relieved.