| 1 | 1 | | 1.1 A bill for an act |
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| 2 | 2 | | 1.2 relating to commerce; removing obsolete language; amending Minnesota Statutes |
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| 3 | 3 | | 1.3 2024, section 45.0135, subdivision 7. |
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| 4 | 4 | | 1.4BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: |
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| 5 | 5 | | 1.5 Section 1. Minnesota Statutes 2024, section 45.0135, subdivision 7, is amended to read: |
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| 6 | 6 | | 1.6 Subd. 7.Assessment.Each insurer authorized to sell insurance in the state of Minnesota, |
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| 7 | 7 | | 1.7including surplus lines carriers, and having Minnesota earned premium the previous calendar |
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| 8 | 8 | | 1.8year shall remit an assessment to the commissioner for deposit in the insurance fraud |
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| 9 | 9 | | 1.9prevention account on or before June 1 of each year. The amount of the assessment shall |
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| 10 | 10 | | 1.10be based on the insurer's total assets and on the insurer's total written Minnesota premium, |
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| 11 | 11 | | 1.11for the preceding fiscal year, as reported pursuant to section 60A.13. Beginning with the |
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| 12 | 12 | | 1.12payment due on or before June 1, 2024, The assessment amount is: |
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| 13 | 13 | | Assessment1.13 Total Assets |
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| 14 | 14 | | 400$1.14 Less than $100,000,000 |
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| 15 | 15 | | 1,500$1.15 $100,000,000 to $1,000,000,000 |
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| 16 | 16 | | 4,000$1.16 Over $1,000,000,000 |
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| 17 | 17 | | Assessment1.17 Minnesota Written Premium |
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| 18 | 18 | | 400$1.18 Less than $10,000,000 |
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| 19 | 19 | | 1,500$1.19 $10,000,000 to $100,000,000 |
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| 20 | 20 | | 4,000$1.20 Over $100,000,000 |
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| 21 | 21 | | 1.21 For purposes of this subdivision, the following entities are not considered to be insurers |
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| 22 | 22 | | 1.22authorized to sell insurance in the state of Minnesota: risk retention groups; or township |
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| 23 | 23 | | 1.23mutuals organized under chapter 67A. |
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| 24 | 24 | | 1Section 1. |
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| 25 | 25 | | 25-04514 as introduced03/03/25 REVISOR RSI/AC |
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| 26 | 26 | | SENATE |
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| 27 | 27 | | STATE OF MINNESOTA |
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| 28 | 28 | | S.F. No. 2512NINETY-FOURTH SESSION |
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| 29 | 29 | | (SENATE AUTHORS: KLEIN) |
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| 30 | 30 | | OFFICIAL STATUSD-PGDATE |
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| 31 | 31 | | Introduction and first reading03/13/2025 |
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| 32 | 32 | | Referred to Commerce and Consumer Protection |
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