MN SF4157

Creates new Minnesota Statutes chapter 59E, the "Rental Home Marketplace Guarantees Act," to regulate damage protection guarantees offered by short-term rental platforms like Airbnb and VRBO

Providers offering rental home marketplace guarantees must register annually with the Commissioner of Commerce and pay a $750 fee

All rental home marketplace guarantees must be backed by reimbursement insurance policies issued by insurers authorized in Minnesota, protecting property owners if the platform fails to pay claims

Platform users may file claims directly against the insurance company if the provider fails to perform within 180 days after proof of loss is filed

Rental home marketplace guarantees are explicitly defined as not constituting insurance, exempting compliant providers from broader Minnesota insurance regulations