1.1.................... moves to amend H.F. No. 1741 as follows:
1.2Delete everything after the enacting clause and insert:

1.3	"Section 1. SUMMARY OF APPROPRIATIONS.

1.4The amounts in this section summarize direct appropriations, or reductions in
1.5appropriations, by fund, made in this act.

1.6			2010		2011		Total
1.7	General	$	(40,000)	$	(322,000)	$	(362,000)
1.8	Petroleum Tank Cleanup		(25,000)		(32,000)		(57,000)
1.9	Special Revenue		(139,000)		(38,000)		(177,000)
1.10	Total	$	(204,000)	$	(392,000)	$	(596,000)

1.11	Sec. 2. APPROPRIATIONS.

1.12The dollar amounts in the columns under "Appropriations" are added to or, if shown
1.13in parentheses, subtracted from appropriations enacted in Laws 2009, chapter 37, article
1.142, unless otherwise stated. The appropriations and reductions in appropriations are from
1.15the general fund, or another named fund, and are for the fiscal years indicated for each
1.16purpose. The figures "2010" and "2011" mean that the appropriations or reductions in
1.17appropriations listed under them are for the fiscal year ending June 30, 2010, or June
1.1830, 2011, respectively. The "first year" is fiscal year 2010. The "second year" is fiscal
1.19year 2011. "The biennium" is fiscal years 2010 and 2011. Appropriations, reductions in
1.20appropriations, cancellations of appropriations, and transfers of appropriations for the
1.21fiscal year ending June 30, 2010, are effective the day following final enactment.

1.22				APPROPRIATIONS
1.23				Available for the Year
1.24				Ending June 30
1.25					2010		2011

1.26

Sec. 3. DEPARTMENT OF COMMERCE

2.1

Subdivision 1.Total Appropriation

$

(204,000)

$

(392,000)

2.2	Appropriations by Fund
2.3		2010	2011
2.4	General	(40,000)	(322,000)
2.5 2.6	Petroleum Tank Release Cleanup	(25,000)	(32,000)
2.7	Special Revenue	(139,000)	(38,000)

2.8The amounts that may be spent for each
2.9purpose are specified in the following
2.10subdivisions.

2.11

Subd. 2.Administrative Services

(66,000)

(126,000)

2.12

Subd. 3.Market Assurance

(124,000)

(196,000)

2.13

Subd. 4.Financial Institutions

400,000

2.14$400,000 the first year is a onetime
2.15appropriation for accessing the national
2.16mortgage licensing system (NMLS) as
2.17required by the federal Secure and Fair
2.18Enforcement (SAFE) for Mortgage Licensing
2.19Act, United States Code, title 12, chapter 51.

2.20 2.21

Subd. 5.Petroleum Tank Release Cleanup Board

(25,000)

(32,000)

2.22These reductions are from the petroleum tank
2.23release cleanup fund.

2.24

Subd. 6.Office of Energy Security

(389,000)

(38,000)

2.25	Appropriations by Fund
2.26		2010	2011
2.27	General	(250,000)	-0-
2.28	Special Revenue	(139,000)	(38,000)

2.29(a) $250,000 the first year is a reduction in
2.30the appropriation for E85 cost-share grants.
2.31(b) $18,000 the first year is a reduction in
2.32the grant to the Board of Regents of the
2.33University of Minnesota for the Natural
2.34Resources and Research Institute at the
3.1University of Minnesota, Duluth, to develop
3.2statewide heat flow maps. This reduction
3.3is from the appropriation from the special
3.4revenue fund.
3.5(c) $31,000 the first year and $38,000 the
3.6second year are reductions in funding of
3.7community energy technical assistance
3.8and outreach on renewable energy and
3.9energy efficiency, as described in Minnesota
3.10Statutes, section 216C.385. These reductions
3.11are from the appropriations from the special
3.12revenue fund.
3.13(d) $90,000 the first year is a reduction in
3.14the grant to the Board of Trustees of the
3.15Minnesota State Colleges and Universities
3.16for the International Renewable Energy
3.17Technology Institute (IRETI). This reduction
3.18is from the appropriation from the special
3.19revenue fund.

3.20 3.21

Sec. 4. CANCELLATIONS; GENERAL FUND

3.22(a) Of the unexpended balance from previous
3.23appropriations from the general fund to
3.24the commissioner of commerce for E85
3.25cost-share grants, $350,000 is canceled.
3.26(b) Of the unexpended balance from the
3.27appropriation from the general fund to
3.28the commissioner of commerce for the
3.29renewable hydrogen initiative in Minnesota
3.30Statutes, section 216B.813, $550,000 is
3.31canceled.

3.32 3.33

Sec. 5. CANCELLATIONS; SPECIAL REVENUE FUND

4.1(a) Of the unexpended balance from the
4.2appropriation from the special revenue
4.3fund to the commissioner of commerce in
4.4Laws 2007, chapter 57, article 2, section 3,
4.5subdivision 6, for biogas recovery grants,
4.6$250,000 is canceled.
4.7(b) Of the unexpended balance from the
4.8appropriation from the special revenue
4.9fund to the commissioner of commerce in
4.10Laws 2007, chapter 57, article 2, section
4.113, subdivision 6, for automotive research
4.12grants, $39,000 is canceled.
4.13(c) Of the unexpended balance from the
4.14appropriation from the special revenue
4.15fund to the commissioner of commerce in
4.16Laws 2007, chapter 57, article 2, section 3,
4.17subdivision 6, for the hydrogen road map,
4.18$50,000 is canceled.
4.19(d) Of the unexpended balance from the
4.20appropriation from the special revenue
4.21fund to the commissioner of commerce in
4.22Laws 2007, chapter 57, article 2, section 3,
4.23subdivision 6, for renewable energy grants,
4.24$40,000 is canceled.
4.25(e) Of the unexpended balance from the
4.26appropriation from the special revenue
4.27fund to the commissioner of commerce in
4.28Laws 2008, chapter 363, article 6, section
4.293, subdivision 4, for green economy and
4.30manufacturing, $8,000 is canceled.
4.31(f) Of the unexpended balance from the
4.32appropriation from the special revenue fund
4.33to the commissioner of commerce in Laws
4.342008, chapter 340, section 5, for studies
4.35and activities associated with the legislative
5.1greenhouse gas accord advisory group,
5.2$13,000 is canceled.

5.3 5.4

Sec. 6. TRANSFER; PETROLEUM TANK RELEASE CLEANUP FUND

5.5Before June 30, 2010, the commissioner
5.6of management and budget shall transfer
5.7$1,969,000 to the general fund. After July
5.81, 2010, and before June 30, 2011, the
5.9commissioner of management and budget
5.10shall transfer $1,032,000 to the general
5.11fund. These transfers are from the petroleum
5.12tank release cleanup fund established in
5.13Minnesota Statutes, chapter 115C.

5.14 5.15

Sec. 7. TRANSFERS; SPECIAL REVENUE FUND

5.16(a) For the purposes of this section,
5.17"commissioner" means the commissioner of
5.18management and budget.
5.19(b) In the first year, the commissioner
5.20shall transfer $2,991,000 from the special
5.21revenue fund to the general fund. In the
5.22second year, the commissioner shall transfer
5.23$2,027,000 from the special revenue fund to
5.24the general fund. The transfers must be from
5.25the following appropriation reductions and
5.26accounts within the special revenue fund:
5.27(1) $539,000 the first year and $38,000 the
5.28second year are from the special revenue fund
5.29appropriations reductions and cancellations
5.30in this act;
5.31(2) $246,000 the first year and $270,000 the
5.32second year are from the telecommunications
5.33access Minnesota fund established in
5.34Minnesota Statutes, section 237.52;
6.1(3) $238,000 the first year is from the
6.2assessments collected under Minnesota
6.3Statutes, section 216C.052, for the reliability
6.4administrator;
6.5(4) $100,000 the first year and $100,000
6.6the second year are from the Department of
6.7Commerce technology account established
6.8in Minnesota Statutes, section 45.24;
6.9(5) $622,000 the first year and $547,000
6.10the second year are from the energy
6.11and conservation account established in
6.12Minnesota Statutes, section 216B.241. Of
6.13this amount, (i) $100,000 the first year
6.14and $17,000 the second year are from
6.15the assessments for technical assistance
6.16in Minnesota Statutes, section 216B.241,
6.17subdivision 1d; (ii) $500,000 the first year
6.18and $500,000 the second year are from
6.19the assessments for applied research and
6.20development grants in Minnesota Statutes,
6.21section 216B.241, subdivision 1e; and (iii)
6.22$22,000 the first year and $30,000 the second
6.23year are from the assessment for facilities
6.24energy efficiency in Minnesota Statutes,
6.25section 216B.241, subdivision 1f;
6.26(6) $64,000 the first year and $48,000 the
6.27second year are from the insurance fraud
6.28prevention account established in Minnesota
6.29Statutes, section 45.0135;
6.30(7) $420,000 the first year and $420,000 the
6.31second year are from the automobile theft
6.32prevention account established in Minnesota
6.33Statutes, section 168A.40;
6.34(8) $49,000 the first year and $5,000
6.35the second year are from the real estate
7.1education, research and recovery fund
7.2established in Minnesota Statutes, section
7.382.43;
7.4(9) $100,000 the first year is from the
7.5consumer education account established in
7.6Minnesota Statutes, section 58.10;
7.7(10) $11,000 the first year and $15,000
7.8the second year are from the fees and
7.9assessments collected under Minnesota
7.10Statutes, section 216E.18;
7.11(11) the remaining balance in the first
7.12year, estimated to be $19,000, is from the
7.13routing of certain pipelines under Minnesota
7.14Statutes, section 216G.02;
7.15(12) $4,000 the first year and $9,000 the
7.16second year are from the joint exercise of
7.17powers agreements with the Department of
7.18Health for regulating health maintenance
7.19organizations;
7.20(13) $75,000 the first year and $75,000 the
7.21second year are from the liquefied petroleum
7.22gas account established in Minnesota
7.23Statutes, section 239.785; and
7.24(14) $500,000 the first year and $500,000 the
7.25second year are from the telephone assistance
7.26fund established in Minnesota Statutes,
7.27section 237.701.

7.28

Sec. 8. TRANSFER; ASSIGNED RISK PLAN

7.29By June 30, 2010, the commissioner of
7.30management and budget shall transfer
7.31$15,000,000 in assets of the workers'
7.32compensation assigned risk plan created
8.1under Minnesota Statutes, section 79.252, to
8.2the general fund.

8.3    Sec. 9. Minnesota Statutes 2009 Supplement, section 45.30, subdivision 6, is amended
8.4to read:
8.5    Subd. 6. Course approval. (a) Courses must be approved by the commissioner in
8.6advance. A course that is required by federal criteria or a reciprocity agreement to receive
8.7a substantive review will be approved or disapproved on the basis of its compliance with
8.8the provisions of laws and rules relating to the appropriate industry. At the commissioner's
8.9discretion, a course that is not required by federal criteria or a reciprocity agreement to
8.10receive a substantive review may be approved based on a qualified provider's certification
8.11on a form specified by the commissioner that the course complies with the provisions of
8.12this chapter and the laws and rules relating to the appropriate industry. For the purposes
8.13of this section, a "qualified provider" is one of the following: (1) a degree-granting
8.14institution of higher learning located within this state; (2) a private school licensed by the
8.15Minnesota Office of Higher Education; or (3) when conducting courses for its members, a
8.16bona fide trade association that staffs and maintains in this state a physical location that
8.17contains course and student records and that has done so for not less than three years.
8.18The commissioner may review any approved course and may cancel its approval with
8.19regard to all future offerings. The commissioner must make the final determination as to
8.20accreditation and assignment of credit hours for courses. Courses must be at least one hour
8.21in length, except courses for real estate appraisers must be at least two hours in length.
8.22Individuals wishing to receive credit for continuing education courses that have not
8.23been previously approved may submit the course information for approval. Courses
8.24must be in compliance with the laws and rules governing the types of courses that will
8.25and will not be approved.
8.26Approval will not include time spent on meals or other unrelated activities.
8.27(b) Courses must be submitted at least 30 days before the initial proposed course
8.28offering.
8.29(c) Approval must be granted for a subsequent offering of identical continuing
8.30education courses without requiring a new application. The commissioner must deny
8.31future offerings of courses if they are found not to be in compliance with the laws relating
8.32to course approval.
8.33(d) When either the content of an approved course or its method of instruction
8.34changes, the course is no longer approved for license education credit. A new application
9.1must be submitted for the changed course if the education provider intends to offer it for
9.2license education credit.

9.3    Sec. 10. Minnesota Statutes 2008, section 80A.46, is amended to read:
9.480A.46 SECTION 202; EXEMPT TRANSACTIONS.
9.5    The following transactions are exempt from the requirements of sections 80A.49
9.6through 80A.54, except 80A.50, paragraph (a), clause (3), and 80A.71:
9.7    (1) isolated nonissuer transactions, consisting of sale to not more than ten purchasers
9.8in Minnesota during any period of 12 consecutive months, whether effected by or through
9.9a broker-dealer or not;
9.10    (2) a nonissuer transaction by or through a broker-dealer registered, or exempt from
9.11registration under this chapter, and a resale transaction by a sponsor of a unit investment
9.12trust registered under the Investment Company Act of 1940, in a security of a class that
9.13has been outstanding in the hands of the public for at least 90 days, if, at the date of
9.14the transaction:
9.15    (A) the issuer of the security is engaged in business, the issuer is not in the
9.16organizational stage or in bankruptcy or receivership, and the issuer is not a blank check,
9.17blind pool, or shell company that has no specific business plan or purpose or has indicated
9.18that its primary business plan is to engage in a merger or combination of the business with,
9.19or an acquisition of, an unidentified person;
9.20    (B) the security is sold at a price reasonably related to its current market price;
9.21    (C) the security does not constitute the whole or part of an unsold allotment to, or
9.22a subscription or participation by, the broker-dealer as an underwriter of the security
9.23or a redistribution;
9.24    (D) a nationally recognized securities manual or its electronic equivalent designated
9.25by rule adopted or order issued under this chapter or a record filed with the Securities and
9.26Exchange Commission that is publicly available contains:
9.27    (i) a description of the business and operations of the issuer;
9.28    (ii) the names of the issuer's executive officers and the names of the issuer's
9.29directors, if any;
9.30    (iii) an audited balance sheet of the issuer as of a date within 18 months before the
9.31date of the transaction or, in the case of a reorganization or merger when the parties to
9.32the reorganization or merger each had an audited balance sheet, a pro forma balance
9.33sheet for the combined organization; and
9.34    (iv) an audited income statement for each of the issuer's two immediately previous
9.35fiscal years or for the period of existence of the issuer, whichever is shorter, or, in the case
10.1of a reorganization or merger when each party to the reorganization or merger had audited
10.2income statements, a pro forma income statement; and
10.3    (E) any one of the following requirements is met:
10.4    (i) the issuer of the security has a class of equity securities listed on a national
10.5securities exchange registered under Section 6 of the Securities Exchange Act of 1934
10.6or designated for trading on the National Association of Securities Dealers Automated
10.7Quotation System;
10.8    (ii) the issuer of the security is a unit investment trust registered under the Investment
10.9Company Act of 1940;
10.10    (iii) the issuer of the security, including its predecessors, has been engaged in
10.11continuous business for at least three years; or
10.12    (iv) the issuer of the security has total assets of at least $2,000,000 based on an
10.13audited balance sheet as of a date within 18 months before the date of the transaction or, in
10.14the case of a reorganization or merger when the parties to the reorganization or merger
10.15each had such an audited balance sheet, a pro forma balance sheet for the combined
10.16organization;
10.17    (3) a nonissuer transaction by or through a broker-dealer registered or exempt from
10.18registration under this chapter in a security of a foreign issuer that is a margin security
10.19defined in regulations or rules adopted by the Board of Governors of the Federal Reserve
10.20System;
10.21    (4) a nonissuer transaction by or through a broker-dealer registered or exempt
10.22from registration under this chapter in an outstanding security if the guarantor of the
10.23security files reports with the Securities and Exchange Commission under the reporting
10.24requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934 (15 U.S.C.
10.25Sections 78m or 78o(d));
10.26    (5) a nonissuer transaction by or through a broker-dealer registered or exempt from
10.27registration under this chapter in a security that:
10.28    (A) is rated at the time of the transaction by a nationally recognized statistical rating
10.29organization in one of its four highest rating categories; or
10.30    (B) has a fixed maturity or a fixed interest or dividend, if:
10.31    (i) a default has not occurred during the current fiscal year or within the three
10.32previous fiscal years or during the existence of the issuer and any predecessor if less than
10.33three fiscal years, in the payment of principal, interest, or dividends on the security; and
10.34    (ii) the issuer is engaged in business, is not in the organizational stage or in
10.35bankruptcy or receivership, and is not and has not been within the previous 12 months a
10.36blank check, blind pool, or shell company that has no specific business plan or purpose or
11.1has indicated that its primary business plan is to engage in a merger or combination of the
11.2business with, or an acquisition of, an unidentified person;
11.3    (6) a nonissuer transaction by or through a broker-dealer registered or exempt from
11.4registration under this chapter effecting an unsolicited order or offer to purchase;
11.5    (7) a nonissuer transaction executed by a bona fide pledgee without the purpose
11.6of evading this chapter;
11.7    (8) a nonissuer transaction by a federal covered investment adviser with investments
11.8under management in excess of $100,000,000 acting in the exercise of discretionary
11.9authority in a signed record for the account of others;
11.10    (9) a transaction in a security, whether or not the security or transaction is otherwise
11.11exempt, in exchange for one or more bona fide outstanding securities, claims, or property
11.12interests, or partly in such exchange and partly for cash, if the terms and conditions of
11.13the issuance and exchange or the delivery and exchange and the fairness of the terms and
11.14conditions have been approved by the administrator after a hearing;
11.15    (10) a transaction between the issuer or other person on whose behalf the offering is
11.16made and an underwriter, or among underwriters;
11.17    (11) a transaction in a note, bond, debenture, or other evidence of indebtedness
11.18secured by a mortgage or other security agreement if:
11.19    (A) the note, bond, debenture, or other evidence of indebtedness is offered and sold
11.20with the mortgage or other security agreement as a unit;
11.21    (B) a general solicitation or general advertisement of the transaction is not made; and
11.22    (C) a commission or other remuneration is not paid or given, directly or indirectly, to
11.23a person not registered under this chapter as a broker-dealer or as an agent;
11.24    (12) a transaction by an executor, administrator of an estate, sheriff, marshal,
11.25receiver, trustee in bankruptcy, guardian, or conservator;
11.26    (13) a sale or offer to sell to:
11.27    (A) an institutional investor;
11.28    (B) an accredited investor;
11.29    (C) a federal covered investment adviser; or
11.30    (D) any other person exempted by rule adopted or order issued under this chapter;
11.31    (14) a sale or an offer to sell securities by an issuer, if the transaction is part of
11.32a single issue in which:
11.33    (A) not more than 35 purchasers are present in this state during any 12 consecutive
11.34months, other than those designated in paragraph (13);
11.35    (B) a general solicitation or general advertising is not made in connection with
11.36the offer to sell or sale of the securities;
12.1    (C) a commission or other remuneration is not paid or given, directly or indirectly, to
12.2a person other than a broker-dealer registered under this chapter or an agent registered
12.3under this chapter for soliciting a prospective purchaser in this state; and
12.4    (D) the issuer reasonably believes that all the purchasers in this state, other than
12.5those designated in paragraph (13), are purchasing for investment.
12.6Any issuer selling to purchasers in this state in reliance on this clause (14) exemption
12.7must provide to the administrator notice of the transaction by filing a statement of issuer
12.8form as adopted by rule. Notice must be filed at least ten days in advance of any sale or
12.9such shorter period as permitted by the administrator. However, an issuer who makes sales
12.10to ten or fewer purchasers in Minnesota during any period of 12 consecutive months is not
12.11required to provide this notice;
12.12    (15) a transaction under an offer to existing security holders of the issuer, including
12.13persons that at the date of the transaction are holders of convertible securities, options,
12.14or warrants, if a commission or other remuneration, other than a standby commission, is
12.15not paid or given, directly or indirectly, for soliciting a security holder in this state. The
12.16person making the offer and effecting the transaction must provide to the administrator
12.17notice of the transaction by filing a written description of the transaction. Notice must be
12.18filed at least ten days in advance of any transaction or such shorter period as permitted by
12.19the administrator;
12.20    (16) an offer to sell, but not a sale, of a security not exempt from registration under
12.21the Securities Act of 1933 if:
12.22    (A) a registration or offering statement or similar record as required under the
12.23Securities Act of 1933 has been filed, but is not effective, or the offer is made in compliance
12.24with Rule 165 adopted under the Securities Act of 1933 (17 C.F.R. 230.165); and
12.25    (B) a stop order of which the offeror is aware has not been issued against the offeror
12.26by the administrator or the Securities and Exchange Commission, and an audit, inspection,
12.27or proceeding that is public and that may culminate in a stop order is not known by the
12.28offeror to be pending;
12.29    (17) an offer to sell, but not a sale, of a security exempt from registration under the
12.30Securities Act of 1933 if:
12.31    (A) a registration statement has been filed under this chapter, but is not effective;
12.32    (B) a solicitation of interest is provided in a record to offerees in compliance with a
12.33rule adopted by the administrator under this chapter; and
12.34    (C) a stop order of which the offeror is aware has not been issued by the administrator
12.35under this chapter and an audit, inspection, or proceeding that may culminate in a stop
12.36order is not known by the offeror to be pending;
13.1    (18) a transaction involving the distribution of the securities of an issuer to the
13.2security holders of another person in connection with a merger, consolidation, exchange
13.3of securities, sale of assets, or other reorganization to which the issuer, or its parent
13.4or subsidiary and the other person, or its parent or subsidiary, are parties. The person
13.5distributing the issuer's securities must provide to the administrator notice of the
13.6transaction by filing a written description of the transaction along with a consent to service
13.7of process complying with section 80A.88. Notice must be filed at least ten days in
13.8advance of any transaction or such shorter period as permitted by the administrator;
13.9    (19) a rescission offer, sale, or purchase under section 80A.77;
13.10    (20) an offer or sale of a security to a person not a resident of this state and not
13.11present in this state if the offer or sale does not constitute a violation of the laws of the
13.12state or foreign jurisdiction in which the offeree or purchaser is present and is not part of
13.13an unlawful plan or scheme to evade this chapter;
13.14    (21) employees' stock purchase, savings, option, profit-sharing, pension, or
13.15similar employees' benefit plan, including any securities, plan interests, and guarantees
13.16issued under a compensatory benefit plan or compensation contract, contained in a
13.17record, established by the issuer, its parents, its majority-owned subsidiaries, or the
13.18majority-owned subsidiaries of the issuer's parent for the participation of their employees
13.19including offers or sales of such securities to:
13.20    (A) directors; general partners; trustees, if the issuer is a business trust; officers;
13.21consultants; and advisors;
13.22    (B) family members who acquire such securities from those persons through gifts or
13.23domestic relations orders;
13.24    (C) former employees, directors, general partners, trustees, officers, consultants, and
13.25advisors if those individuals were employed by or providing services to the issuer when
13.26the securities were offered; and
13.27    (D) insurance agents who are exclusive insurance agents of the issuer, or the issuer's
13.28subsidiaries or parents, or who derive more than 50 percent of their annual income from
13.29those organizations.
13.30A person establishing an employee benefit plan under the exemption in this clause
13.31(21) must provide to the administrator notice of the transaction by filing a written
13.32description of the transaction along with a consent to service of process complying with
13.33section 80A.88. Notice must be filed at least ten days in advance of any transaction or
13.34such shorter period as permitted by the administrator;
13.35    (22) a transaction involving:
14.1    (A) a stock dividend or equivalent equity distribution, whether the corporation or
14.2other business organization distributing the dividend or equivalent equity distribution is
14.3the issuer or not, if nothing of value is given by stockholders or other equity holders for
14.4the dividend or equivalent equity distribution other than the surrender of a right to a cash
14.5or property dividend if each stockholder or other equity holder may elect to take the
14.6dividend or equivalent equity distribution in cash, property, or stock;
14.7    (B) an act incident to a judicially approved reorganization in which a security is
14.8issued in exchange for one or more outstanding securities, claims, or property interests, or
14.9partly in such exchange and partly for cash; or
14.10    (C) the solicitation of tenders of securities by an offeror in a tender offer in
14.11compliance with Rule 162 adopted under the Securities Act of 1933 (17 C.F.R. 230.162);
14.12    (23) a nonissuer transaction in an outstanding security by or through a broker-dealer
14.13registered or exempt from registration under this chapter, if the issuer is a reporting
14.14issuer in a foreign jurisdiction designated by this paragraph or by rule adopted or order
14.15issued under this chapter; has been subject to continuous reporting requirements in the
14.16foreign jurisdiction for not less than 180 days before the transaction; and the security is
14.17listed on the foreign jurisdiction's securities exchange that has been designated by this
14.18paragraph or by rule adopted or order issued under this chapter, or is a security of the same
14.19issuer that is of senior or substantially equal rank to the listed security or is a warrant or
14.20right to purchase or subscribe to any of the foregoing. For purposes of this paragraph,
14.21Canada, together with its provinces and territories, is a designated foreign jurisdiction
14.22and The Toronto Stock Exchange, Inc., is a designated securities exchange. After an
14.23administrative hearing in compliance with chapter 14, the administrator, by rule adopted
14.24or order issued under this chapter, may revoke the designation of a securities exchange
14.25under this paragraph, if the administrator finds that revocation is necessary or appropriate
14.26in the public interest and for the protection of investors;
14.27    (24) any transaction effected by or through a Canadian broker-dealer exempted from
14.28broker-dealer registration pursuant to section 80A.56(b)(3); or
14.29    (25)(A) the offer and sale by a cooperative organized under chapter 308A, or
14.30under the laws of another state, of its securities when the securities are offered and sold
14.31only to its members, or when the purchase of the securities is necessary or incidental to
14.32establishing membership in the cooperative, or when the securities are issued as patronage
14.33dividends. This paragraph applies to a cooperative organized under chapter 308A, or under
14.34the laws of another state, only if the cooperative has filed with the administrator a consent
14.35to service of process under section 80A.88 and has, not less than ten days before the
15.1issuance or delivery, furnished the administrator with a written general description of the
15.2transaction and any other information that the administrator requires by rule or otherwise;
15.3    (B) the offer and sale by a cooperative organized under chapter 308B of its securities
15.4when the securities are offered and sold to its existing members or when the purchase of the
15.5securities is necessary or incidental to establishing patron membership in the cooperative,
15.6or when such securities are issued as patronage dividends. The administrator has the
15.7power to define "patron membership" for purposes of this paragraph. This paragraph
15.8applies to securities, other than securities issued as patronage dividends, only when:
15.9    (i) the issuer, before the completion of the sale of the securities, provides each
15.10offeree or purchaser disclosure materials that, to the extent material to an understanding of
15.11the issuer, its business, and the securities being offered, substantially meet the disclosure
15.12conditions and limitations found in rule 502(b) of Regulation D promulgated by the
15.13Securities and Exchange Commission, Code of Federal Regulations, title 17, section
15.14230.502; and
15.15    (ii) within 15 days after the completion of the first sale in each offering completed in
15.16reliance upon this exemption, the cooperative has filed with the administrator a consent to
15.17service of process under section 80A.88 (or has previously filed such a consent), and has
15.18furnished the administrator with a written general description of the transaction and any
15.19other information that the administrator requires by rule or otherwise; and
15.20(C) a cooperative may, at or about the same time as offers or sales are being
15.21completed in reliance upon the exemptions from registration found in this subpart and as
15.22part of a common plan of financing, offer or sell its securities in reliance upon any other
15.23exemption from registration available under this chapter. The offer or sale of securities in
15.24reliance upon the exemptions found in this subpart will not be considered or deemed a part
15.25of or be integrated with any offer or sale of securities conducted by the cooperative in
15.26reliance upon any other exemption from registration available under this chapter, nor will
15.27offers or sales of securities by the cooperative in reliance upon any other exemption from
15.28registration available under this chapter be considered or deemed a part of or be integrated
15.29with any offer or sale conducted by the cooperative in reliance upon this paragraph.

15.30    Sec. 11. Minnesota Statutes 2008, section 80A.65, subdivision 1, is amended to read:
15.31    Subdivision 1. Registration or notice filing fee. (a) There shall be a filing fee of
15.32$100 for every application for registration or notice filing. There shall be an additional fee
15.33of one-tenth of one percent of the maximum aggregate offering price at which the securities
15.34are to be offered in this state, and the maximum combined fees shall not exceed $300.
16.1    (b) When an application for registration is withdrawn before the effective date
16.2or a preeffective stop order is entered under section 80A.54, all but the $100 filing fee
16.3shall be returned. If an application to register securities is denied, the total of all fees
16.4received shall be retained.
16.5    (c) Where a filing is made in connection with a federal covered security under
16.6section 18(b)(2) of the Securities Act of 1933, there is a fee of $100 for every initial filing.
16.7If the filing is made in connection with redeemable securities issued by an open end
16.8management company or unit investment trust, as defined in the Investment Company Act
16.9of 1940, there is an additional annual fee of 1/20 1/10 of one percent of the maximum
16.10aggregate offering price at which the securities are to be offered in this state during the
16.11notice filing period. The fee must be paid at the time of the initial filing and thereafter in
16.12connection with each renewal no later than July 1 of each year and must be sufficient to
16.13cover the shares the issuer expects to sell in this state over the next 12 months. If during a
16.14current notice filing the issuer determines it is likely to sell shares in excess of the shares
16.15for which fees have been paid to the administrator, the issuer shall submit an amended
16.16notice filing to the administrator under section 80A.50, together with a fee of 1/20 1/10
16.17of one percent of the maximum aggregate offering price of the additional shares. Shares
16.18for which a fee has been paid, but which have not been sold at the time of expiration of
16.19the notice filing, may not be sold unless an additional fee to cover the shares has been
16.20paid to the administrator as provided in this section and section 80A.50. If the filing is
16.21made in connection with redeemable securities issued by such a company or trust, there
16.22is no maximum fee for securities filings made according to this paragraph. If the filing
16.23is made in connection with any other federal covered security under Section 18(b)(2) of
16.24the Securities Act of 1933, there is an additional fee of one-tenth of one percent of the
16.25maximum aggregate offering price at which the securities are to be offered in this state,
16.26and the combined fees shall not exceed $300. Fees collected under this subdivision are
16.27exempted under section 16A.1285, subdivision 2.

16.28    Sec. 12. Laws 2009, chapter 37, article 2, section 13, is amended to read:
16.29    Sec. 13. APPROPRIATIONS; CANCELLATIONS.
16.30(a) The remaining balance of the fiscal year 2009 special revenue fund appropriation
16.31for the Green Jobs Task Force under Laws 2008, chapter 363, article 6, section 3,
16.32subdivision 4, is transferred and appropriated to the commissioner of employment and
16.33economic development for the purposes of green enterprise assistance under Minnesota
16.34Statutes, section 116J.438. This appropriation is available until spent.
17.1(b) The unencumbered balance of the fiscal year 2008 appropriation to the
17.2commissioner of commerce for the rural and energy development revolving loan
17.3fund under Laws 2007, chapter 57, article 2, section 3, subdivision 6, is canceled and
17.4reappropriated to the commissioner of commerce as follows:
17.5(1) $1,500,000 is for a grant to the Board of Trustees of the Minnesota State Colleges
17.6and Universities for the International Renewable Energy Technology Institute (IRETI) to
17.7be located at Minnesota State University, Mankato, as a public and private partnership to
17.8support applied research in renewable energy and energy efficiency to aid in the transfer of
17.9technology from Sweden to Minnesota and to support technology commercialization from
17.10companies located in Minnesota and throughout the world; and
17.11(2) the remaining balance is for a grant to the Board of Regents of the University of
17.12Minnesota for the initiative for renewable energy and the environment to fund start up
17.13costs related to a national solar testing and certification laboratory to test, rate, and certify
17.14the performance of equipment and devices that utilize solar energy for heating and cooling
17.15air and water and for generating electricity.
17.16This appropriation is available until expended.
17.17EFFECTIVE DATE.This section is effective the day following final enactment.

17.18    Sec. 13. ASSESSMENT.
17.19(a) The commissioner of commerce may levy a pro rata assessment on institutions
17.20licensed under Minnesota Statutes, chapter 58, to recover the costs to the Department of
17.21Commerce for administering the licensing and registration requirements of Minnesota
17.22Statutes, section 58A.10.
17.23(b) The commissioner shall levy the assessments and notify each institution of the
17.24amount of the assessment being levied by September 30, 2010. The institution shall pay
17.25the assessment to the department no later than November 30, 2010. If an institution fails
17.26to pay its assessment by this date, its license may be suspended by the commissioner
17.27until it is paid in full.
17.28(c) This section expires December 1, 2010."
17.29Delete the title and insert:
17.31relating to appropriations; energy; appropriating money or reducing
17.32appropriations for activities or programs of Department of Commerce; modifying
17.33provisions relating to continuing education for certain licensed occupations,
17.34securities transaction exemptions, and mortgages;amending Minnesota Statutes
17.352008, sections 80A.46; 80A.65, subdivision 1; Minnesota Statutes 2009
17.36Supplement, section 45.30, subdivision 6; Laws 2009, chapter 37, article 2,
17.37section 13."