Bill
Bill > HB211
MS HB211
MS HB211Insurance Department; remove from the provisions of the Mississippi Budget Transparency and Simplification Act.
summary
Introduced
01/15/2021
01/15/2021
In Committee
02/17/2021
02/17/2021
Crossed Over
02/03/2021
02/03/2021
Passed
Dead
03/02/2021
03/02/2021
Introduced Session
2021 Regular Session
Bill Summary
AN ACT TO AMEND SECTION 27-104-205, MISSISSIPPI CODE OF 1972, TO REMOVE THE REQUIREMENT THAT THE DEPARTMENT OF INSURANCE BE FUNDED BY APPROPRIATIONS FROM THE GENERAL FUND; TO AMEND SECTIONS 83-1-27, 83-2-33, 83-2-35, 83-5-17, 83-5-41, 83-5-45, 83-5-69, 83-5-72, 83-5-73, 83-5-77, 83-9-3, 83-17-71, 83-17-519, 83-19-21, 83-21-1, 83-37-29, 83-39-3 AND 83-73-9, MISSISSIPPI CODE OF 1972, TO DELETE THE PROVISIONS OF LAW REQUIRING CERTAIN EXPENSES OF THE DEPARTMENT OF INSURANCE TO BE DEFRAYED BY APPROPRIATION FROM THE STATE GENERAL FUND; TO PROVIDE THAT ALL UNEXPENDED AMOUNTS REMAINING IN THE INSURANCE DEPARTMENT FUND ABOVE THE SUM OF $500,000.00 AT THE END OF EACH FISCAL YEAR SHALL LAPSE INTO THE STATE GENERAL FUND; AND FOR RELATED PURPOSES.
AI Summary
This bill removes the requirement that the Department of Insurance be funded by appropriations from the general fund and instead allows the department to be funded through fees and assessments deposited into the Insurance Department Fund. The bill also provides that any unexpended amounts remaining in the Insurance Department Fund above $500,000 at the end of each fiscal year shall lapse into the state general fund.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Died In Committee (on 03/02/2021)
Official Document
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