HF 4151

as introduced - 93rd Legislature (2023 - 2024) Posted on 02/22/2024 02:55pm

A bill for an act
relating to taxation; insurance; increasing the automobile theft prevention surcharge;
amending Minnesota Statutes 2022, section 297I.11, subdivision 1.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1.

Minnesota Statutes 2022, section 297I.11, subdivision 1, is amended to read:

Subdivision 1.

Surcharge.

Each insurer engaged in the writing of policies of automobile
insurance shall collect a surcharge, at the rate of deleted text begin 50 cents deleted text end new text begin $1 new text end per vehicle for every six months
of coverage, on each policy of automobile insurance providing comprehensive insurance
coverage issued or renewed in this state. The surcharge may not be considered premium
for any purpose, including the computation of premium tax or agents' commissions. The
amount of the surcharge must be separately stated on either a billing or policy declaration
sent to an insured. Insurers shall remit the revenue derived from this surcharge to the
commissioner of revenue for purposes of the automobile theft prevention program described
in section 65B.84. For purposes of this subdivision, "policy of automobile insurance" has
the meaning given it in section 65B.14, covering only the following types of vehicles as
defined in section 168.002:

(1) a passenger automobile;

(2) a pickup truck;

(3) a van but not commuter vans as defined in section 168.126; or

(4) a motorcycle,

except that no vehicle with a gross vehicle weight in excess of 10,000 pounds is included
within this definition.

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective July 1, 2024.
new text end