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HF 2117

Minnesota State Colleges and Universities required to locate a specific eligible person's missing IRAP account or pay the eligible person $25000.

2025-2026 Regular Session Introduced by Ripper Repinski

HF 2117 requires Minnesota State Colleges and Universities to locate a missing IRAP account for a named eligible person; if not found, pay a one-time $25,000.

Introduction and first reading, referred to State Government Finance and Policy
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Bill Summary · HF 2117

Summary of HF 2117 (Minnesota)

Quick overview

  • Bill number: HF 2117
  • Title (as provided): Minnesota State Colleges and Universities required to locate a specific eligible person's missing IRAP account or pay the eligible person $25,000.
  • Status: Introduction and first reading; referred to the Committee on State Government Finance and Policy
  • Introduced: March 10, 2025
  • Companion bill: SF 1213 (Senate)

Purpose and intent

HF 2117 seeks to impose a remedial requirement on the Minnesota State Colleges and Universities system (the state college and university system) to locate a missing IRAP account for a specific eligible person. If the system is unable to locate that missing IRAP account, the bill would require a payment of $25,000 to the eligible person. The core aim appears to be ensuring an identified eligible individual receives compensation when an IRAP account cannot be located.

Key provisions (as described)

  • The Minnesota State Colleges and Universities system must attempt to locate a specified eligible person’s missing IRAP account.
  • If the account cannot be located, the system must pay the eligible person a one-time amount of $25,000.
  • The bill’s text (not provided here) would designate who qualifies as the “eligible person” and define the procedures for locating the account and issuing the payment.
  • No other substantive changes to IRAP, retirement benefits, or related procedures are described in the information provided.

Affected parties and scope

  • Primary entities: Minnesota State Colleges and Universities system.
  • Eligible person: A named or specified individual who has a missing IRAP account and would be eligible to receive the $25,000 payment if the account cannot be located.
  • The bill could affect future handling of IRAP accounts within the system and create a direct financial liability if a required account cannot be found.

Procedural and timeline details

  • Introduced and assigned to committee on March 10, 2025.
  • Referral: State Government Finance and Policy committee.
  • Current status indicates only the introduction and first reading have occurred; no further committee action or floor status is recorded in the provided information.

Financial and policy considerations

  • Financial impact: Potential cost to the state or the system in cases where a missing IRAP account cannot be located and a $25,000 payment is issued. The bill does not specify funding sources or caps per year.
  • Implementation questions: How “eligible person” is determined, what processes count as “locating” an account, timelines for searches, and how the payment interacts with existing retirement or benefits programs.

Notes

  • The details above are based on the summary information provided. The full text of HF 2117 would clarify definitions, eligibility criteria, funding, and implementing procedures.
  • As a companion to SF 1213, action in both chambers could occur, depending on committee and floor considerations.

Compiled from official sources — confirm details with the bill’s official record.

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