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MN HF4151
Bill
Status
Introduced
2/22/2024
Primary Sponsor
Ethan Cha
Click for details
AI Summary
- Increases the automobile insurance surcharge from 50 cents to $1 per vehicle for every six months of coverage.
- Applies to comprehensive insurance policies issued or renewed in Minnesota for passenger automobiles, pickup trucks, vans (excluding commuter vans), and motorcycles with gross vehicle weight of 10,000 pounds or less.
- Surcharge revenues continue to be remitted to the commissioner of revenue for the automobile theft prevention program under section 65B.84.
- Surcharge is not considered premium for purposes of premium tax or agents' commissions and must be separately stated on billing or policy declarations.
- Effective July 1, 2024.
Legislative Description
Automobile theft prevention surcharge increased.
Last Action
Introduction and first reading, referred to Commerce Finance and Policy
2/22/2024
Committee Referrals
Commerce Finance & Policy2/22/2024
Full Bill Text
No bill text available