Minutes

Present: Senator James P. Metzen - Chair, Senator Vicki Jensen - Vice Chair, Senator David M. Brown, Senator Jim Carlson, Senator Kevin L. Dahle, Senator Gary H. Dahms, Senator Paul E. Gazelka, Senator Barb Goodwin, Senator Karin Housley, Senator Ron Latz, Senator Sandra L. Pappas, Senator Eric R. Pratt, Senator Roger J. Reinert

Absent: No Members Absent

Senator James P. Metzen called the meeting to order at 12:08 PM. Senator Franzen presents SF 2462 an act relating to limousine regulations Gina Brannan, MN Chauffeured Transportation Association Comments and questions from Senator Gazelka, Dahms Cullen Sheehan Senator Housely moves SF 2462 be rec to pass and sent to Senate Floor Senator Metzen presents SF 2346 Liquor Omnibus bill Senator Reinert moves the A1 amendment, voice vote, motion adopted Senate Counsel Chris Stang provides walkthrough for bill Senator Pappas offers A2 amendment Melissa Lesch, Gov Affairs of Minneapolis Grant Paulson, Manager City of Minneapolis Lic. Dept. Senator Pappas moves A2 amendment as amended, voice vote, motion adopted Senator Metzen moves that SF 2346 be rec to pass as amended and ref to Taxes Senator Hayden presents SF 2368 an act relating to Pay Day Lending Senator Carlson offers the A1 amendment, voice vote, motion prevails Brian Rusche, JRLC Questions from Senator Pratt, Reinert, Goodwin Mike Rothman, Commissioner of Department of Commerce Testifies to the support by Governor Questions from Reinert, Metzen, Brown, Dahle - several states have banned practice, some have limits on the amount people can take. Argue that 273% is the average rate on lending. Argue many people have suggested that they are better off without it. Examples of egregious loans. Questions Senator Goodwin to Counsel Counsel Stang - 8% standard rate for some types of loans. Credit Cards carry different rates, less regulation Questions Gazelka - Online options become more available as they are pushed from standard short term lending Questions from Senator Pratt Meghan Olsen-Biebighauser Renee Bergeron (paid $600 in interest per paycheck) Cherrish Holland, Lutheran Social Services - Three cleints who were in the pay day trap Question from Senator Gazelka Sherry Shannon Questions from Senator Reinert Paul Cassidy, Stinson, Leonard, Street (behalf of PayDay America) Testifies against the bill, says will force individuals into higher cost, lower regulated options. No answers as to where people are getting their loans from. Says verification of income and checking account Questions from Senator Dahle - Why opposed to 5 loans per year. Stuart Tapper, UN Bank - Discusses loan under writing practices Rebecca Eckman - Testifies to how bad online loans are Teri Frye Questions from Senator Dahle, Reinert Sherry Rasmusson Senator Gazelka offers the A3 amendment Questions from Senator Goodwin - Loan limits and database tracking. Questions form Senator Dahle - Average 10 loans, 12 by opponents say this eliminates most egregious loans Questions from Senator Goodwin, Carlson - Any policy about time restriction between loans Questions from Senator Pratt - Worry about violation of Equal Credit and Opportunity Act. Restrictions on fixed incomes proposal. Comments from Senator Metzen and Reinert Questions from Reinert Comments from Senator Latz, Hayden (Discussion of differences between A1 and A3) Senator Reinert offers an Oral Amendment to A3 amendment Senator Reinert moves Oral Amendment to A3 amendment, voice vote, motion prevails. Senator Gazelka moves A3 amendment, voice vote, chair calls adoption. Division. Motion Prevails. Senator Reinert moves that SF 2368 as amended be rec to pass and sent to Senate Floor Explains opposition to pay Day

S.F. 2368: Senator Hayden: Payday lending regulations and consumer short-term loan contract clarifications.



Senator Reinert moved that S.F. 2368, as amended, be recommended to pass. - MOTION CARRIED.

S.F. 2462: Senator Franzen: Limousine regulations modifications.



Senator Housley moved that S.F. 2462, be recommended to pass. - MOTION CARRIED.

S.F. 2346: Senator Metzen: Omnibus Liquor Bill.



Senator Metzen moved that S.F. 2346, as amended, be recommended to pass. - MOTION CARRIED.

The meeting was adjourned at 12:35

Senator James P. Metzen, Chair	Isaac Russell, Legislative Assistant