The bill establishes the Minnesota Lifeline Insurance Program, which aims to provide low-cost motor vehicle insurance policies for low-income residents of Minnesota. The program will be overseen by the commissioner of commerce, who is required to consult with a designated facility to create and operate the program. The commissioner must also issue an annual report evaluating the program's impact on the uninsured motorist rates and the competitiveness of the private passenger vehicle insurance market. The program will include specific definitions, eligibility criteria, and coverage requirements for low-cost policies, which will be available for six or twelve months.

Additionally, the bill amends Minnesota Statutes 2022, section 65B.49, to clarify that policies issued under the Minnesota Lifeline Insurance Program meet existing insurance requirements. It also includes appropriations from the general fund for the establishment and marketing of the program in fiscal year 2025. The program is designed to assist eligible applicants, who must meet certain criteria, including residency, health coverage, and driving history, to ensure they can access affordable insurance options.

Statutes affected:
Introduction: 65B.49