HF2653 Summary

• Establishes a peer-to-peer car sharing program framework separate from traditional vehicle rentals, with peer-to-peer car sharing programs excluded from rental vehicle insurance requirements under existing law.

• Requires peer-to-peer car sharing programs to assume liability for bodily injury, property damage, uninsured/underinsured motorist coverage, and personal injury protection during car sharing periods at amounts no less than Minnesota's minimum financial responsibility limits.

• Allows peer-to-peer car sharing programs to offer financial protection packages combining insurance and contractual damage assumption, and permits collision damage waivers without licensing as an insurance transaction.

• Mandates consumer protections including disclosures on insurance coverage limitations, daily rates and fees, driver's license verification, and vehicle safety recall compliance before listing vehicles.

• Exempts peer-to-peer car sharing program vehicles from rental vehicle sales tax and removes them from the definition of "auto rental company" for insurance products regulation purposes.