Bill Expected to be Signed into Law by Governor Walz in Coming Days
St. Paul, Minn. – Senate Taxes Chair Ann Rest (DFL-New Hope) said today that victims of fraud in Minnesota, who are scammed out of millions of dollars each year, will benefit from a new restitution fund created as part of the final Tax bill approved by the Senate Monday. The measure, authored by Senator Rest, will now go to Governor Walz, who is expected to sign it into law in the coming days.
The bill, which passed during a one-day special session, creates a restitution fund for Minnesota fraud victims, allowing the money won back the Attorney General in fraud settlements to be returned to fraud victims. The bill requires 50% of all money recovered in a consumer enforcement action be deposited in the restitution account instead of the state’s general fund.
“Criminal actors target a wide range of people in our state with scams, and anyone can be a victim. Oftentimes, seniors are targeted because they have accumulated more wealth, and scammers believe they are easier targets,” said Senator Rest. “According to the AARP, Minnesotans lost $103 million to fraud in the just the first three quarters of 2024, and they reported 22,000 cases of fraud to the Federal Trade Commission. This important provision of the tax bill helps ensure that fraud victims get some of their hard-earned money back.”
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