Minnesota SF2648 modifies the definition of debt buyer and appropriates $5,000,000 for medical debt relief.

Minnesota SF2648 amends the definition of "debt buyer" to exclude nonprofit organizations purchasing charged-off accounts for charitable purposes. It also appropriates $5,000,000 from the general fund for a grant to Undue Medical Debt to relieve medical debt for eligible residents. This one-time appropriation is available until June 30, 2028. Undue Medical Debt must report to the commissioner of commerce and the attorney general on the number and characteristics of residents whose medical debts have been relieved.

Minnesota SF2648 modifies the definition of debt buyer and appropriates $5,000,000 for medical debt relief.

Minnesota SF2648 amends the definition of "debt buyer" to exclude nonprofit organizations purchasing charged-off accounts for charitable purposes. It also appropriates $5,000,000 from the general fund for a grant to Undue Medical Debt to relieve medical debt for eligible residents. This one-time appropriation is available until June 30, 2028. Undue Medical Debt must report to the commissioner of commerce and the attorney general on the number and characteristics of residents whose medical debts have been relieved.