This bill seeks to improve motor vehicle and motorcycle insurance regulations in Minnesota by increasing liability coverage and mandating uninsured and underinsured motorist coverage for motorcycles. Key changes include raising the minimum liability limits for bodily injury from $30,000 to $60,000 for one person and from $60,000 to $120,000 for multiple persons involved in an accident. The bill also establishes a Traumatic Brain Injury Recovery Account and program, which will provide compensation to eligible beneficiaries who suffer traumatic brain injuries in automobile accidents. Insurers will be required to collect a surcharge to fund this program and must inform policyholders about the surcharge and application procedures.

Additionally, the bill introduces specific definitions and requirements related to traumatic brain injuries, outlines the creation and administration of the recovery account, and sets eligibility criteria for beneficiaries. It mandates that insurers provide clear information regarding the surcharge and the traumatic brain injury program, establishes arbitration timelines to expedite claims processing, and requires annual reporting on the account's activities. The effective date for these changes is set for August 1, 2025, and the bill also includes provisions for a surcharge on certain vehicles with a gross vehicle weight not exceeding 10,000 pounds, with revenue directed to the Traumatic Brain Injury Recovery Account. The commissioner will oversee the collection and administration of this surcharge, ensuring it aligns with other tax regulations.

Statutes affected:
Introduction: 65B.133, 65B.43, 65B.44, 65B.48, 65B.49