H.F. 1993 Summary: Peer-to-Peer Car Sharing Program Act

• Establishes comprehensive regulatory framework for peer-to-peer car sharing programs in Minnesota, effective January 1, 2024, defining key terms including shared motor vehicles, vehicle owners, drivers, and the car sharing period.

• Requires peer-to-peer car sharing programs to maintain motor vehicle liability insurance coverage at minimum amounts set forth in section 65B.49, subdivision 3, during each car sharing period for both vehicle owners and drivers.

• Permits peer-to-peer car sharing programs to offer contractual assumption of physical damage risks and collision damage waivers to vehicle owners and drivers, which are not considered insurance transactions.

• Establishes consumer protection requirements including mandatory disclosures about insurance coverage, driver license verification, equipment responsibility, safety recall verification, and emergency contact information.

• Exempts peer-to-peer car sharing programs and shared motor vehicle owners from being classified as auto rental companies and from sales tax on peer-to-peer car sharing transactions.