The bill establishes a biennial budget for commerce and energy in Minnesota, introducing various provisions related to consumer small loans, renewable energy, and cannabis licensing. Key appropriations include $400,000 annually for a financial services inclusion program aimed at assisting low-income populations and $15 million each year for cannabis industry community renewal grants. The bill also allocates funding for energy conservation initiatives, such as $3.2 million for weatherization work and $500,000 for clean energy resource teams. It modifies existing statutes to enhance the regulatory framework for financial institutions and energy initiatives, ensuring that appropriations are available for specified fiscal years.

Significant amendments include the establishment of a licensing framework for consumer small loan lenders, requiring businesses to obtain a license from the commissioner and submit detailed applicant information. The bill also clarifies definitions and requirements for consumer short-term loans, designating the commissioner of commerce as the enforcing authority. Additionally, it updates regulations for private fund advisers, introduces new requirements for the Solar Energy Production Incentive Program, and enhances oversight of electric vehicle supply equipment (EVSE) and cannabis policy. The bill aims to improve consumer protection, regulatory compliance, and equity within the cannabis industry while promoting energy conservation and efficiency.

Statutes affected:
Introduction: 47.60, 47.601, 80A.58, 80A.65, 62E.21, 62E.23, 62E.24, 62E.25, 116C.7792, 216C.09, 216C.10, 216C.11, 216C.12, 216C.391, 342.17, 342.37