Update: CPA licensure bills at the Minnesota Legislature
May 16, 2024 | Geno Fragnito
I write today with an update about
Senate File 1660 and
House File 1749, the MNCPA bills at the Minnesota Legislature seeking to
broaden the pathways to CPA licensure and tackle the talent pipeline challenge.
The legislation will not become law this year.
The focus in St. Paul shifted the past several weeks with large bills needing to be hashed out amid a Capitol controversy with one senator facing an ethics investigation and questions surrounding whether she can participate in various functions of lawmaking. Since the MNCPA last updated you on this initiative, there were inroads to include these changes in a bigger bill, but those opportunities dried up for this year when the Senate didn’t bring forward a state government omnibus policy bill.
The session adjourns Monday, May 20.
Efforts will continue to broaden the pathways to CPA licensure. The MNCPA board kicked off this national conversation by directing staff to draft legislation in late 2022. Since then,
many state societies and boards of accountancy have approached the matter to seek change, including how to navigate
mobility and substantial equivalency. The AICPA and NASBA launched their own studies and initiatives to address the talent pipeline shortage and the AICPA recently
dropped its opposition to changes in the education requirements to become a CPA.
The MNCPA-backed legislation would allow for CPA candidates to earn licensure with 120 college credits and two years of work experience, which could reduce the time and cost to CPA candidates. This proposal also maintains the 150-hour option with one year of work experience.
The MNCPA looks forward to continuous thoughtful, deliberate conversation to bolster the ranks of CPAs to meet the needs of clients, businesses and government. The MNCPA intends to bring back this legislation when a new Minnesota legislative session starts in 2025.
Stay tuned as more develops around this national discussion.
Topics: Legislative & Government Affairs, Regulation, Staffing, Professional Certification, Government, Education, MNCPA Programs & Activities
Geno Fragnito
Geno Fragnito is the MNCPA government relations director, advocating on behalf of the CPA profession. His days consist of last-minute meeting changes, building relationships with lawmakers, helping CPAs navigate state government, and putting in more than 15,000 steps per day walking the halls of the Capitol. Geno unwinds with a little golf and traveling with his family. If he weren’t a lobbyist, Geno would perfect his cast and be a professional fisherman. Geno can be reached at 952-885-5550 or gfragnito@mncpa.org.
Blog Posts by this author
