1.1 	A bill for an act
1.2 	relating to commerce; directing the Department of Commerce to develop a plan 
1.3 	to license individual employees of mortgage originators; appropriating money.
1.4 	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

1.5 	Section 1. DEPARTMENT OF COMMERCE PLAN.
 1.6 	The Department of Commerce is directed by February 1, 2007, to develop a plan 
1.7 	to license individuals in the residential mortgage origination business. The plan shall 
1.8 	include recommendations for continuing education, enforcement, standards of conduct, 
1.9 	and other relevant regulatory requirements. The plan shall be presented in the form of 
1.10 	draft legislation, which shall include any appropriation from a funding source necessary 
1.11 	for the department to implement the plan.

1.12 	Sec. 2. APPROPRIATION.
 1.13 	$300,000 is appropriated for fiscal year 2007 from the real estate education, 
1.14 	research, and recovery fund established under Minnesota Statutes, section 82.43, for 
1.15 	mortgage foreclosure prevention under the homeownership education, counseling, and 
1.16 	training program under Minnesota Statutes, section 462A.209.