MN SF754

Defines "indemnification agreement" as an agreement to indemnify, defend, or hold harmless a party against liability for damages from bodily injury or physical property damage in building and construction contracts.

Renders indemnification agreements in public improvement contracts unenforceable unless the injury or damage is attributable to the promisor's negligent or wrongful acts, or involves environmental strict liability indemnification by owners or governmental entities.

Voids as against public policy any provision requiring a party to provide insurance coverage for the negligence or intentional acts of other parties, including third parties, in public building or construction contracts.

Preserves the validity of provisions requiring workers' compensation insurance, construction bonds, builder's risk policies, owner or contractor-controlled insurance programs, and project-specific insurance for claims arising from the promisor's negligence.

Exempts building and construction contracts for work within 50 feet of public or private railroads, or railroads regulated by the Federal Railroad Administration, from the unenforceability restrictions; effective the day following final enactment for agreements entered into on or after that date.