HF 2678

as introduced - 93rd Legislature (2023 - 2024) Posted on 04/19/2023 11:38pm

A bill for an act
relating to public safety; modifying the fire safety account fee assessed to
homeowner insurance policies; amending Minnesota Statutes 2022, section 297I.06,
subdivision 1.

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

Section 1.

Minnesota Statutes 2022, section 297I.06, subdivision 1, is amended to read:

Subdivision 1.

Insurance policies surcharge.

(a) Except as otherwise provided in
subdivision 2, each licensed insurer engaged in writing policies of homeowner's insurance
authorized in section 60A.06, subdivision 1, clause (1)(c), or commercial fire policies or
commercial nonliability policies shall collect a surcharge as provided in this paragraph.
deleted text begin Through June 30, 2013, deleted text end The surcharge is equal to 0.65 percent of the gross premiums and
assessments, less return premiums, on direct business received by the company, or by its
agents for it, for homeowner's insurance policies, commercial fire policies, and commercial
nonliability insurance policies in this state. deleted text begin Beginning July 1, 2013, the surcharge is 0.5
percent.
deleted text end

(b) The surcharge amount collected under paragraph (a) or subdivision 2, paragraph (b),
may not be considered premium for any other purpose. The surcharge amount under
paragraph (a) must be separately stated on either a billing or policy declaration or document
containing similar information sent to an insured.

(c) Amounts collected by the commissioner under this section must be deposited in the
fire safety account established pursuant to subdivision 3.

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective for policies issued or renewed on or after
July 1, 2013.
new text end