Senate File No. 1347 is a legislative bill from Minnesota that focuses on issues related to debt buying and medical debt relief. Key points of the bill include:

1. Modification of the Definition of Debt Buyer: The bill changes the legal definition of a "debt buyer" to include businesses that purchase overdue accounts or other debt for the purpose of collecting it. This could be through direct collection efforts or by employing third parties or attorneys to handle the collection. Importantly, nonprofit organizations that purchase debt for charitable reasons are not classified as debt buyers under this new definition.

2. Appropriation for Medical Debt Relief: The bill allocates $5 million in 2026 from the state's general fund to a program administered by Undue Medical Debt. This program is intended to help residents who are struggling to pay their medical bills despite reasonable efforts by hospitals to collect these debts. The funds are earmarked for use by June 30, 2028.

3. Reporting Requirements: The bill mandates that Undue Medical Debt provide reports to both the Commissioner of Commerce and the Attorney General. These reports should detail the number of residents helped by the program and their demographic characteristics.

The bill was introduced to the Senate and assigned to the Commerce and Consumer Protection committee for further discussion and evaluation. This legislation aims to address the financial challenges faced by individuals with medical debt by revising regulations around debt collection and providing direct financial relief.