Purpose of the Bill

The bill aims to modify the registration fee provisions for insulin manufacturers in Minnesota. This involves changing how fees are assessed and allowing exemptions based on specific criteria.

Main Provisions

• Annual Registration Fee: The bill mandates that each manufacturer of insulin must pay an annual registration fee of $100,000.
• Notification Timeline: Manufacturers will be informed of this requirement starting November 1, 2024, and on each subsequent November 1.
• Technical Assistance: The Commissioner of Health is tasked with providing technical assistance to the board responsible for fee assessment, utilizing various data sources.
• Exemption Criteria: A provision is included for manufacturers to request an exemption from the fee. To qualify, a manufacturer must show that their gross revenue from insulin sales in Minnesota accounts for less than five percent of the total sales of all manufacturers in the state.

Significant Changes to Existing Law

The bill updates the criteria for insulin manufacturers to be exempt from the registration fee. It stipulates a revenue-based threshold to determine exemption eligibility, ensuring that manufacturers with minimal impact on the state's market can avoid the fee.

Relevant Terms

• Insulin
• Manufacturer registration fee
• Gross revenue
• Wholesale acquisition cost
• Exemption criteria
• Minnesota market