This bill modifies the requirements for obtaining a certified public accountant (CPA) certificate in Minnesota, specifically addressing education and experience standards. It establishes a transitional period until July 1, 2030, during which applicants can qualify for certification under either the current requirements or the new standards set to take effect after that date. The new standards will require applicants to have either a master's degree with one year of experience or a bachelor's degree with two years of experience. Additionally, the bill introduces a new subdivision that outlines the requirements for CPA mobility, allowing individuals licensed in other states to practice in Minnesota without needing to obtain a separate license, provided they meet specific criteria.

The bill also repeals a Minnesota rule related to substantial equivalency, streamlining the process for out-of-state CPAs to practice in Minnesota. The new language emphasizes that individuals from other states must hold a valid license and meet educational requirements to be granted practice privileges in Minnesota. The effective date for these changes is set for January 1, 2026, while the repeal of the existing rule takes effect immediately upon final enactment.

Statutes affected:
Introduction: 326A.03, 326A.14
1st Engrossment: 326A.03, 326A.14