Repealing the Minnesota no-fault automobile insurance act; requiring liability and providing for coverage; authorizing self insurance approved by the commissioner of commerce, authorizing commissioner rules establishing reporting requirements, standards or guidelines to assure the adequacy of the financing and administration of self insurance plans and bonding and other requirements; requiring the state and local government units to provide insurance; requiring insurers to provide an appropriate premium reduction on policies or contracts issued or renewed after a certain date; requiring conforming legislation from
the revisor of statutes
(ra)