Minnesota HF2071 modifies the insurance premium tax, affecting health insurers and guaranty association assessments.

Minnesota HF2071 amends the insurance premium tax by modifying the tax on health insurers. It introduces a new definition for "direct business" and specifies that refunds of overpayments must be paid from the health care access fund. The bill also revises the calculation of the premium tax offset, allowing a proportionate part of the offset for the current year based on preceding year insurance tax revenues. It mandates that any excess offset must be carried forward to subsequent tax years. The bill is effective for premiums received after December 31, 2025.

Minnesota HF2071 modifies the insurance premium tax, affecting health insurers and guaranty association assessments.

Minnesota HF2071 amends the insurance premium tax by modifying the tax on health insurers. It introduces a new definition for "direct business" and specifies that refunds of overpayments must be paid from the health care access fund. The bill also revises the calculation of the premium tax offset, allowing a proportionate part of the offset for the current year based on preceding year insurance tax revenues. It mandates that any excess offset must be carried forward to subsequent tax years. The bill is effective for premiums received after December 31, 2025.