1.1.................... moves to amend H.F. No. 647 as follows:
1.2Page 7, delete section 7
1.3Page 8, delete section 8
1.4Page 9, after line 21, insert:

1.5    "Sec. 10. Minnesota Statutes 2012, section 79A.04, subdivision 3a, is amended to read:
1.6    Subd. 3a. Acceptable securities. The following are acceptable securities and surety
1.7bonds for the purpose of funding self-insurance plans and group self-insurance plans:
1.8(1) direct obligations of the United States government except mortgage-backed
1.9securities of the Government National Mortgage Association any kind;
1.10(2) bonds, notes, debentures, and other instruments which are obligations of
1.11agencies and instrumentalities of the United States including, but not limited to, the
1.12Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation,
1.13the Federal Home Loan Bank, the Student Loan Marketing Association, and the Farm
1.14Credit System, and their successors, but not including collateralized mortgage obligations
1.15or mortgage pass-through instruments;
1.16(3) bonds or securities that are issued by the state of Minnesota and that are secured
1.17by the full faith and credit of the state;
1.18(4) certificates of deposit which are insured by the Federal Deposit Insurance
1.19Corporation and are issued by a Minnesota depository institution and approved by the
1.20commissioner;
1.21(5) obligations of, or instruments unconditionally guaranteed by, Minnesota
1.22depository financial institutions whose long-term debt rating is at least AA-, Aa3, or their
1.23equivalent, by at least two nationally recognized rating agencies;
1.24(6) surety bonds issued by a corporate surety authorized by the commissioner of
1.25commerce to transact such business in the state;
2.1(7) obligations of or instruments unconditionally guaranteed by Minnesota insurance
2.2companies, whose long-term debt rating is at least AA-, Aa3, or their equivalent, by at least
2.3two nationally recognized rating agencies and whose rating is A+ by A. M. Best, Inc.; and
2.4(8) any guarantee from the United States government whereby the payment of the
2.5workers' compensation liability of a self-insurer is guaranteed; and bonds which are the
2.6general obligation of the Minnesota Housing Finance Agency.
2.7(8) cash;
2.8(9) time deposits that are fully insured by any federal agency; and
2.9(10) letters of credit issued by a financial institutions approved by the commissioner."
2.10Page 9, line 34, delete everything after "commissioner" and insert "shall submit
2.11the applicant's fingerprints, consent, and the required fee to the superintendent of the
2.12bureau of criminal apprehension. The superintendent shall perform a check of the state
2.13criminal history repository and is authorized to exchange the applicant's fingerprints with
2.14the Federal Bureau of Investigation to obtain the national criminal history record. The
2.15superintendent shall return the results of the state and national criminal history records
2.16checks to the commissioner."
2.17Page 9, delete line 35
2.18Page 10, delete lines 1 to 8
2.19Page 10, line 9, delete "(e)" and insert "(d)"
2.20Renumber the sections in sequence and correct the internal references
2.21Amend the title accordingly