MN SF3163

Amends Minnesota Statutes section 297I.01, subdivision 9 to modify the definition of "gross premiums" for insurance taxation purposes.

For bail bonds, redefines gross premiums as the net amount paid to bail bond agents after all fees have been paid, excluding amounts retained by bail bond agents.

For title insurers, clarifies that gross premiums means charges for title insurance according to approved rate filings without deductions for agent commissions, but excludes abstracting, searching, examining, escrow, closing, and related service fees.

For nonadmitted insurance, includes premium deposits, assessments, fees, and compensation as gross premiums, but excludes stamping fees and operating assessments.

Applies to policies that go into effect after June 30, 2023.