Maddy summaryHF 1014 allows the Minnesota Insurance Guarantee Association (MIGA) board to request financial information from insureds to verify if their net worth exceeds $25 million on December 31 of the prior year. This specifically affects insureds whose combined net worth (including subsidiaries) meets or surpasses this threshold, as claims from such insureds would otherwise be excluded from MIGA coverage. The bill requires MIGA to inform insureds of consequences for failing to provide requested financial details within 60 days, after which their net worth is automatically deemed above $25 million. The key mechanism streamlines MIGA’s ability to assess claim eligibility by verifying high-net-worth status through direct financial requests. This change amends Minnesota Statutes section 60C.09, subdivision 2.
Sponsored bills
Maddy summaryThis bill adds a tax deduction for overtime pay in Minnesota's individual income tax code. It allows taxpayers to subtract the amount of overtime pay they earned from their taxable income, directly affecting Minnesota residents who receive overtime compensation. The deduction covers wages, salaries, tips, and other compensation for hours worked beyond standard limits under state or federal law. The change takes effect for tax years beginning after December 31, 2024. This is a straightforward tax policy adjustment with no new requirements or program funding.
Maddy summaryThis bill appropriates $215,000 for fiscal year 2026 and $215,000 for fiscal year 2027 from the general fund to the Minnesota Historical Society. The funds will be used as grants to support the Minnesota Agricultural Interpretive Center - Farmamerica. The bill does not change policies or create new programs, but provides specific annual funding for this existing center. It directly affects the center's operations through these designated grants.
Maddy summaryThis bill authorizes the state to issue up to $35.5 million in bonds to fund public infrastructure improvements in Edgerton. The funds will directly support the city for replacing and rehabilitating its sanitary sewer and drinking water systems, including a new lift station, water treatment plant upgrades, water line replacements, and related street work. The money comes from a state bond proceeds fund, with the Public Facilities Authority managing the grant to Edgerton. The bill focuses on concrete infrastructure upgrades without specifying new policies or regulations.
Maddy summarySF 3291 modifies notice requirements for surplus lines brokers selling homeowners or property insurance on owner-occupied dwellings under $500,000 (adjusted annually by CPI). The bill requires brokers to clearly print a specific notice on policy documents stating customers may qualify for Minnesota's Fair Plan coverage. This notice must appear in at least ten-point type on the policy face, visible and not concealed. It applies only to these specific property insurance policies and adds to existing notice requirements under sections 60A.207 or 60A.209. The bill does not change insurance coverage availability or rates.
Maddy summarySF 1758 amends Minnesota Statutes to allow the Minnesota Insurance Guarantee Association's board to formally request financial information from insureds to verify if their net worth exceeds $25 million (as of the prior year's December 31). This specifically affects insureds with high net worth claims related to insolvent insurers, as claims from such insureds may be excluded from coverage. The bill requires the board to notify insureds of consequences for failing to provide requested financial details within 60 days, at which point their net worth is automatically deemed to exceed $25 million. This provision clarifies the process for evaluating large insureds' claims under the Insurance Guarantee Association's coverage rules.
Maddy summaryThis bill modifies Minnesota's Public Employees Retirement Association (PERA) rules for public employees and retirees. It repeals additional employer retirement contributions once PERA's assets reach 98% of its financial obligations, effective after March 31 of the year following the actuarial report. It also increases postretirement cost-of-living adjustments (COLAs) for retirees, capping annual increases at 1.5% unless federal Social Security adjustments exceed 2%, in which case COLAs would match 50% of that federal adjustment. These changes affect all current and future PERA members and retirees, with the COLA adjustments taking effect January 1, 2026.
Maddy summaryThis bill appropriates $75,000 for fiscal year 2026 and $75,000 for fiscal year 2027 from the general fund to support the Minnesota Agriculture and Rural Leadership program. The funds will be provided as grants to the Southwest Minnesota State University Foundation, which administers the program. The bill directly affects the foundation and the program’s participants, including agricultural leaders and rural community members in Minnesota. It does not create new policies but provides specific annual funding to sustain existing program operations.
Maddy summaryHF 1330 updates Minnesota's gasoline specifications to align with current ASTM standards (D4814-24a for gasoline, D4806-21a for ethanol). It requires gasoline blended with ethanol to meet these updated specs and prohibits blending with certain nonethanol oxygenates like MTBE after specific dates (July 1, 2000 for over 0.33% total, July 1, 2005 for any amount). The bill directly affects gasoline producers, refiners, and retailers who blend fuel in Minnesota by setting clearer technical requirements and restricting specific additives. These changes ensure fuel meets modern standards while maintaining ethanol's role as the primary biofuel in Minnesota gasoline.
Maddy summaryThis bill designates the commissioner of commerce as the sole overseer of two existing programs: the Commerce Fraud Bureau (focused on insurance and financial crimes) and the automobile theft prevention program. It requires the Commerce Fraud Bureau to dedicate at least 70% of its efforts to investigating insurance fraud as defined in state law. The commissioner will now have full authority over both programs' operations, personnel, and oversight, replacing prior arrangements. These changes clarify the commissioner's direct responsibility for these initiatives under Minnesota Statutes.