This bill establishes a Consumer Protection Restitution Account within Minnesota's special revenue fund to provide restitution to consumers affected by unlawful acts. It amends existing statutes to redirect undistributed funds from consumer enforcement actions, which would have previously gone to the general fund, to this new account. The attorney general will manage the account, receiving 50% of all money recovered in consumer enforcement actions not designated for other specific purposes. The funds will be used exclusively for compensating eligible consumers and covering administrative costs, capped at 3% of the total funds available. The bill also outlines the distribution process for these funds and mandates the attorney general to publish an annual report on the account's activities and financial status.

Additionally, the bill amends laws regarding funds related to consumer fraud violations, particularly concerning electronic nicotine delivery systems, stipulating that any assurance of discontinuance or court order from litigation must be deposited into the tobacco use prevention account, excluding attorney fees and costs awarded to the state. It clarifies that funds in the consumer protection restitution account are exempt from this requirement. Furthermore, a new subdivision allows consumer enforcement public compensation payments to be treated as a subtraction for eligible consumers, retroactively effective for taxable years beginning after December 31, 2023. Overall, the bill aims to improve the management of consumer protection funds and address youth nicotine use issues.

Statutes affected:
Introduction: 8.31, 16A.151, 290.0132