summary
Introduced
01/19/2023
01/19/2023
In Committee
01/19/2023
01/19/2023
Crossed Over
Passed
Dead
05/09/2024
05/09/2024
Introduced Session
125th General Assembly
Bill Summary
A bill TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY AMENDING SECTION 38-75-485, RELATING TO THE SOUTH CAROLINA HURRICANE DAMAGE MITIGATION PROGRAM, SO AS TO ESTABLISH GRANT CRITERIA, THAT MATCHING GRANT FUNDS MAY BE AVAILABLE TO LOCAL GOVERNMENTS, AND A NONMATCHING GRANT FORMULA; BY AMENDING SECTION 38-3-110, RELATING TO DUTIES OF THE DIRECTOR OF THE DEPARTMENT OF INSURANCE, SO AS TO ALLOW THE DIRECTOR TO PROVIDE INFORMATION REGARDING FACTORS THAT MAY AFFECT PREMIUM RATES; AND BY AMENDING SECTION 38-61-80, RELATING TO WITHDRAWING FROM THE MARKET, SO AS TO INCLUDE REFERENCES TO TERMINATING POLICIES FROM THE MARKET.
AI Summary
This bill amends the South Carolina Code of Laws to make several changes related to the Department of Insurance. Firstly, it establishes grant criteria and funding formulas for the South Carolina Hurricane Damage Mitigation Program, which provides matching and non-matching grants to homeowners and local governments to retrofit residential properties to make them less vulnerable to hurricane damage. Secondly, it allows the Director of the Department of Insurance to provide information regarding factors that may affect premium rates. Lastly, it includes references to terminating policies from the market in the existing law related to an insurer withdrawing from the market in South Carolina.
Committee Categories
Business and Industry
Sponsors (2)
Last Action
Referred to Committee on Labor, Commerce and Industry (on 01/19/2023)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.scstatehouse.gov/billsearch.php?billnumbers=3746&session=125&summary=B |
| Fiscal Note - H3746 2023-01-19 Introduced | https://www.scstatehouse.gov/sess125_2023-2024/fiscalimpactstatements/H3746%202023-01-19%20introduced.pdf |
| BillText | https://www.scstatehouse.gov/sess125_2023-2024/prever/3746_20230119.htm |
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