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Quote of the Week
“It was a pile of bull crap on top of a pile of bull crap!” An angry House Speaker Melissa Hortman responding to Senate Majority Leader Jeremy Miller’s proposal on front-line worker payments.

UI Costs Go Up    

House Speaker Melissa Hortman (DFL-Brooklyn Park) and Senate Majority Leader Jeremy Miller (R-Winona) this week failed to reach an agreement on unemployment insurance (UI). The State owes the federal government $2.7 billion borrowed during COVID to help pay unemployment benefits. The State had to pass legislation by a Tuesday deadline on the issue, but failed, meaning 130,000 employers now face an increase in payroll taxes to start paying down the debt. They’ll pay a higher than usual base rate plus a 14% special assessment. This outcome enraged business leaders and their Republican allies in the Legislature. House DFLers refused to pass a UI fix without including a payment package to frontline workers. The price tag on the DFL worker package is $1 billion, much higher than the $250 million target House and Senate leaders failed to agree upon in 2021 and much too high for Senate Republicans. While a budget deal on the projected $9.3 billion budget surplus can still be reached, the failure to reach a UI deal and frontline worker agreement, when there are billions available to do both, suggests tensions will get even worse in the remaining 9 weeks of the 2022 session.

Reinsurance Continues Moving Forward

Legislation to extend the current health reinsurance program continued moving in the Legislature this week. The Senate on Monday passed S.F. 3472 (Dahms, R-Redwood Falls) on a vote of 42-24. Six DFLers supported the bill, despite vocal opposition from multiple DFL senators. In the House, the Ways and Means Committee approved the bill on Monday and sent it to the floor. Floor consideration of the measure is expected soon.  

Dahms Announces Reelection Bid              sdfsdffsd              

Senator Gary Dahms (R-Redwood Falls) announced this week that he will be seeking a 5th term in the Minnesota State Senate. Dahms, a retired insurance agent, has been a strong voice for the industry in his role as Chair of the Commerce and Consumer Protection Finance and Policy Committee.

H.F. 4245, A bill for an act relating to insurance; providing exemptions to certain insurance company requirements; amending Minnesota Statutes 2020, sections 60A.205, subdivision 2; 60K.49, by adding a subdivision; 72A.03.

The bill was read for the first time and referred to the Committee on Commerce Finance and Policy.

Kotyza-Witthuhn introduced:
H.F. 4394, A bill for an act relating to commerce; modifying regulation of annuity suitability; amending Minnesota Statutes 2020, sections 72A.2031, subdivisions 8, 10, by adding subdivisions; 72A.2032, subdivisions 4, 6, 7, 8, by adding subdivisions; 72A.2033; 72A.2034; 72A.2035, subdivision 1; 72A.2036; repealing Minnesota Statutes 2020, sections 72A.2031, subdivisions 3, 9, 11; 72A.2032, subdivisions 1, 2, 3, 5.

The bill was read for the first time and referred to the Committee on Commerce Finance and Policy.

Rasmusson introduced:
H.F. 4326, A bill for an act relating to commerce; authorizing certain insurers to offer paid family leave insurance benefits; creating a tax credit; proposing coding for new law in Minnesota Statutes, chapter 290; proposing coding for new law as Minnesota Statutes, chapter 63A.

The bill was read for the first time and referred to the Committee on Commerce Finance and Policy.

Senator Utke introduced--
S.F. No. 4094: A bill for an act relating to insurance; providing exemptions to certain insurance company requirements; amending Minnesota Statutes 2020, sections 60A.205, subdivision 2; 60K.49, by adding a subdivision; 72A.03.

Referred to the Committee on Commerce and Consumer Protection Finance and Policy.

Senator Dahms introduced--
S.F. No. 4097: A bill for an act relating to commerce; regulating post-loss assignment of rights related to certain services performed on residential real estate covered by property and casualty insurance; proposing coding for new law in Minnesota Statutes, chapter 325E.

Referred to the Committee on Commerce and Consumer Protection Finance and Policy.

Senator Dahms introduced--
S.F. No. 4108: A bill for an act relating to commerce; modifying regulation of annuity suitability; amending Minnesota Statutes 2020, sections 72A.2031, subdivisions 8, 10, by adding subdivisions; 72A.2032, subdivisions 4, 6, 7, 8, by adding subdivisions; 72A.2033; 72A.2034; 72A.2035, subdivision 1; 72A.2036; repealing Minnesota Statutes 2020, sections 72A.2031, subdivisions 3, 9, 11; 72A.2032, subdivisions 1, 2, 3, 5.

Referred to the Committee on Commerce and Consumer Protection Finance and Policy.

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