Bill > SF2512

This bill removes obsolete language from Minnesota Statutes related to insurance assessments, specifically in section 45.0135, subdivision 7. The bill eliminates specific date references (such as "Beginning with the payment due on or before June 1, 2024") while maintaining the core assessment structure for insurance companies authorized to sell insurance in Minnesota. The assessment requires insurers to remit a payment to the commissioner for deposit in the insurance fraud prevention account by June 1 each year, with the amount based on two factors: the insurer's total assets and total written Minnesota premium. The assessment amounts remain unchanged, with three tiers for both total assets and Minnesota written premium: lower tier ($400), middle tier ($1,500), and upper tier ($4,000). The bill explicitly continues to exclude risk retention groups and township mutuals organized under chapter 67A from being considered insurers for the purposes of this assessment. This technical amendment appears to be a housekeeping measure to remove time-specific language that is no longer relevant, while preserving the existing assessment framework.

Business and Industry

https://www.revisor.mn.gov/bills/bill.php?b=Senate&f=SF2512&ssn=0&y=2025