1.1 	A bill for an act
1.2 	relating to life insurance taxation; exempting certain group term contracts from 
1.3 	the premiums tax; amending Minnesota Statutes 2006, section 297I.15, by 
1.4 	adding a subdivision.
1.5 	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

1.6 	Section 1. Minnesota Statutes 2006, section 297I.15, is amended by adding a 
1.7 	subdivision to read:
1.8 		Subd. 11.Premiums paid to certain foreign insurance companies. With respect 
1.9 	to the state employees group insurance program established under sections 43A.23 to 
1.10 	43A.31, premiums paid for life insurance and accidental death and dismemberment 
1.11 	insurance for eligible employees and dependents, including premiums paid by employees 
1.12 	or dependents for optional coverage, are exempt from the taxes imposed under this chapter 
1.13 	to the extent the premiums are paid to a foreign insurance company domiciled in a state 
1.14 	that exempts its state employee group life insurance program from premium taxes.

1.15 	EFFECTIVE DATE. This section is effective for premiums paid after December 
1.16 	31, 2006.