1.1 	A bill for an act
1.2 	relating to taxation; insurance; modifying the definition of gross premiums;
1.3 	amending Minnesota Statutes 2022, section 297I.01, subdivision 9.
1.4 	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

1.5 	Section 1. Minnesota Statutes 2022, section 297I.01, subdivision 9, is amended to read:
1.6 		Subd. 9.Gross premiums. "Gross premiums" means total premiums paid by 
1.7 	policyholders and applicants of policies, whether received in the form of money or other 
1.8 	valuable consideration, on property, persons, lives, interests and other risks located, resident, 
1.9 	or to be performed in this state, but excluding consideration and premiums for reinsurance 
1.10 	assumed from other insurance companies.
1.11 	(a) "Gross premiums" ~~includes~~ means the ~~total consideration~~ net amount paid to bail 
1.12 	bond agents for bail bonds after all fees have been paid to bail bond agents. Gross premiums 
1.13 	does not include any amounts retained by bail bond agents.
1.14 	(b) For title insurers, "gross premiums" means the charge for title insurance made by a 
1.15 	title insurer or its agents according to the insurer's rate filing approved by the commissioner 
1.16 	of commerce without a deduction for commissions paid to or retained by the agent. Gross 
1.17 	premiums of a title insurer does not include any other charge or fee for abstracting, searching, 
1.18 	or examining the title, or escrow, closing, or other related services.
1.19 	(c) "Gross premiums" includes any workers' compensation special compensation fund 
1.20 	premium surcharge pursuant to section 176.129.
1.21 	(d) "Gross premiums" for nonadmitted insurance includes any payment made as 
1.22 	consideration for an insurance contract for such insurance, including premium deposits, 
2.1 	assessments, fees, and any other compensation given in consideration for a contract of 
2.2 	insurance. Gross premiums does not include the stamping fee, as provided under section 
2.3 	60A.2085, subdivision 7, nor the operating assessment, as provided under section 60A.208, 
2.4 	subdivision 8.

2.5 	EFFECTIVE DATE. This section is effective for policies that go into effect after June 
2.6 	30, 2023.