1.1 A bill for an act
1.2 relating to commerce; removing obsolete language; amending Minnesota Statutes
1.3 2024, section 45.0135, subdivision 7.
1.4BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.5 Section 1. Minnesota Statutes 2024, section 45.0135, subdivision 7, is amended to read:
1.6 Subd. 7.Assessment.Each insurer authorized to sell insurance in the state of Minnesota,
1.7including surplus lines carriers, and having Minnesota earned premium the previous calendar
1.8year shall remit an assessment to the commissioner for deposit in the insurance fraud
1.9prevention account on or before June 1 of each year. The amount of the assessment shall
1.10be based on the insurer's total assets and on the insurer's total written Minnesota premium,
1.11for the preceding fiscal year, as reported pursuant to section 60A.13. Beginning with the
1.12payment due on or before June 1, 2024, The assessment amount is:
Assessment1.13 Total Assets
400$1.14 Less than $100,000,000
1,500$1.15 $100,000,000 to $1,000,000,000
4,000$1.16 Over $1,000,000,000
Assessment1.17 Minnesota Written Premium
400$1.18 Less than $10,000,000
1,500$1.19 $10,000,000 to $100,000,000
4,000$1.20 Over $100,000,000
1.21 For purposes of this subdivision, the following entities are not considered to be insurers
1.22authorized to sell insurance in the state of Minnesota: risk retention groups; or township
1.23mutuals organized under chapter 67A.
1Section 1.
REVISOR RSI/AC 25-0451403/03/25
State of Minnesota
This Document can be made available
in alternative formats upon request
HOUSE OF REPRESENTATIVES
H. F. No. 2235
NINETY-FOURTH SESSION
Authored by O'Driscoll03/12/2025
The bill was read for the first time and referred to the Committee on Commerce Finance and Policy