MINNESOTA STAMPING FEE REDUCTION EFFECTIVE 10.1.2016

STAMPING FEE RATE REDUCTION

The stamping fee rate for Minnesota will be reduced from .06% to .04% effective October 1, 2016.  For ALL transactions effective on or after 10/1/2016, the rate of .04% of the policy premium will apply.  This applies to all transaction types regardless of the original policy effective date. 

For example, if a new policy was effective 6/1/2016, the .06% rate would apply to the premium generated at inception.  If that policy was endorsed or cancelled with an effective date on or after 10/1/2016, the reduced rate of .04% would apply to the premium generated from the endorsement or cancellation.  This applies to additional and/or return premium.