Office of the Revisor of Statutes
SF 2512
Introduction - 94th Legislature (2025 - 2026)
Posted on 03/14/2025 10:47 a.m.
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A bill for an act
relating to commerce; removing obsolete language; amending Minnesota Statutes
2024, section 45.0135, subdivision 7.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
Section 1.
Minnesota Statutes 2024, section 45.0135, subdivision 7, is amended to read:
Subd. 7.
Assessment.
Each insurer authorized to sell insurance in the state of Minnesota,
including surplus lines carriers, and having Minnesota earned premium the previous calendar
year shall remit an assessment to the commissioner for deposit in the insurance fraud
prevention account on or before June 1 of each year. The amount of the assessment shall
be based on the insurer's total assets and on the insurer's total written Minnesota premium,
for the preceding fiscal year, as reported pursuant to section 60A.13. deleted text begin Beginning with the
payment due on or before June 1, 2024,deleted text end The assessment amount is:
| Total Assets |
Assessment |
|||
| Less than $100,000,000 |
$ |
400 |
||
| $100,000,000 to $1,000,000,000 |
$ |
1,500 |
||
| Over $1,000,000,000 |
$ |
4,000 |
||
| Minnesota Written Premium |
Assessment |
|||
| Less than $10,000,000 |
$ |
400 |
||
| $10,000,000 to $100,000,000 |
$ |
1,500 |
||
| Over $100,000,000 |
$ |
4,000 |
||
For purposes of this subdivision, the following entities are not considered to be insurers
authorized to sell insurance in the state of Minnesota: risk retention groups; or township
mutuals organized under chapter 67A.