The bill establishes the Minnesota Lifeline Insurance Program, which aims to provide low-cost motor vehicle insurance policies to low-income residents of Minnesota. The program is to be created and managed by the commissioner of commerce, who will consult with a designated facility and a qualified consumer organization to ensure the program's effectiveness. The bill outlines the definitions of key terms, the responsibilities of the commissioner and the facility, and the criteria for determining premiums for the low-cost policies. It also specifies the coverage requirements for these policies, which include basic economic loss benefits, bodily injury coverage, property damage coverage, and uninsured/underinsured motorist coverage.

Additionally, the bill sets forth eligibility requirements for applicants, including income limits, medical insurance coverage, and driving history. It allows for a surcharge for those with less than three years of continuous licensure and mandates that the facility must assist in determining eligibility and managing the program. The bill also includes an appropriation from the general fund to support the development of the program. Furthermore, it amends existing law to clarify that policies issued under this new program will meet the requirements of current motor vehicle insurance regulations.

Statutes affected:
Introduction: 65B.49, 169.92