SF 2512

03/03/25  REVISOR  RSI/AC  25-04514  as introduced
  SENATE
  STATE OF MINNESOTA
  NINETY-FOURTH SESSION  S.F. No. 2512
  (SENATE AUTHORS: KLEIN)
  DATE       D-PG  OFFICIAL STATUS
  03/13/2025       764 Introduction and first reading
  Referred to Commerce and Consumer Protection
1.1A bill for an act
1.2relating to commerce; removing obsolete language; amending Minnesota Statutes
1.32024, section 45.0135, subdivision 7.
1.4    BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.5Section 1. Minnesota Statutes 2024, section 45.0135, subdivision 7, is amended to read:
1.6Subd. 7. Assessment. Each insurer authorized to sell insurance in the state of Minnesota,
1.7    including surplus lines carriers, and having Minnesota earned premium the previous calendar
1.8    year shall remit an assessment to the commissioner for deposit in the insurance fraud
1.9    prevention account on or before June 1 of each year. The amount of the assessment shall
1.10   be based on the insurer's total assets and on the insurer's total written Minnesota premium,
1.11   for the preceding fiscal year, as reported pursuant to section 60A.13. Beginning with the
1.12   payment due on or before June 1, 2024, The assessment amount is:
1.13Total Assets  Assessment
1.14Less than $100,000,000  $        400
1.15$100,000,000 to $1,000,000,000  $      1,500
1.16Over $1,000,000,000  $      4,000
1.17Minnesota Written Premium  Assessment
1.18Less than $10,000,000  $        400
1.19$10,000,000 to $100,000,000  $      1,500
1.20Over $100,000,000  $      4,000
1.21For purposes of this subdivision, the following entities are not considered to be insurers
1.22   authorized to sell insurance in the state of Minnesota: risk retention groups; or township
1.23   mutuals organized under chapter 67A.
Section 1.  1