as introduced - 83rd Legislature (2003 - 2004) Posted on 12/15/2009 12:00am
1.1 A bill for an act 1.2 relating to taxation; insurance premiums; defining 1.3 direct business; amending Minnesota Statutes 2002, 1.4 section 297I.01, by adding a subdivision. 1.5 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 1.6 Section 1. Minnesota Statutes 2002, section 297I.01, is 1.7 amended by adding a subdivision to read: 1.8 Subd. 6a. [DIRECT BUSINESS.] (a) "Direct business" means 1.9 all insurance provided by an insurance company or its agents, 1.10 and specifically includes stop-loss insurance purchased in 1.11 connection with a self-insurance plan for employee health 1.12 benefits or for other purposes, but excludes: 1.13 (1) reinsurance in which an insurance company assumes the 1.14 liability of another insurance company; and 1.15 (2) self-insurance. 1.16 (b) For purposes of this subdivision, an insurance company 1.17 includes a nonprofit health service corporation, health 1.18 maintenance organization, and community integrated service 1.19 network. 1.20 [EFFECTIVE DATE.] This section is effective for insurance 1.21 premiums received after June 30, 2004.