This bill establishes a task force on homeowners and commercial property insurance in Minnesota, aimed at evaluating issues related to insurance affordability for various housing types and small businesses. The task force will consist of members appointed by various stakeholders, including the Department of Commerce, legislative representatives, and organizations related to housing and insurance. The task force is tasked with identifying recommendations to strengthen the insurance industry, consulting with relevant agencies, and reviewing factors that impact insurance costs, such as risk mitigation methodologies and liability laws.

Additionally, the bill appropriates $200,000 from the general fund for fiscal year 2025 to support the task force's activities, which will include submitting a report by February 15, 2026, summarizing their findings and recommendations. The task force is required to meet regularly and will expire upon the submission of its final recommendations. The effective date for the provisions of this bill is the day following its final enactment.