The proposed bill establishes a Peer-to-Peer Car Sharing Program in Minnesota, introducing new definitions and regulations while amending existing statutes. It outlines the insurance coverage required during the car sharing period, specifying that the program assumes liability for bodily injury, property damage to third parties, and personal injury protection losses. The bill clarifies the responsibilities of shared motor vehicle owners and drivers, ensuring they are insured under a motor vehicle liability insurance policy that meets minimum coverage requirements. It also distinguishes the peer-to-peer car sharing program from traditional auto rental companies and provides specific definitions for terms such as "car sharing period" and "shared motor vehicle."

Additionally, the bill includes provisions regarding insurance exclusions, record-keeping, and vicarious liability, allowing insurers to exclude coverage for claims related to shared motor vehicles. It mandates that peer-to-peer car sharing programs maintain records of vehicle use and exempts them from vicarious liability under certain laws. The legislation also introduces consumer protection measures, such as driver’s license verification and data retention, and sets an effective date of January 1, 2026. Furthermore, it amends existing laws on the liability of owners of rented motor vehicles, limiting compensation for loss of use to a maximum of 14 days and establishing caps on vicarious liability, while also providing a mechanism for adjusting these amounts for inflation based on the Consumer Price Index.

Statutes affected:
Introduction: 65B.49, 72A.125, 297A.64