Bill > SB0196

This bill appropriates $74,147,900 for the Department of Insurance and Financial Services for the fiscal year ending September 30, 2024. * **Departmental Administration and Support:** $7,410,800 is appropriated for administrative functions, including salaries, hearings, and property management. This funding comes from interdepartmental grants and various special revenue funds such as bank fees, captive insurance regulatory and supervision fund, consumer finance fees, credit union fees, deferred presentment service transaction fees, insurance bureau fund, insurance continuing education fees, insurance licensing and regulation fees, MBLSLA fund, and multiple employer welfare arrangement. * **Insurance and Financial Services Regulation:** $64,392,800 is appropriated for the core regulatory functions of the department, covering consumer services, financial institutions evaluation, and insurance evaluation. Funding sources include interdepartmental grants, federal revenues, and various special revenue funds like bank fees, captive insurance regulatory and supervision fund, consumer finance fees, credit union fees, deferred presentment service transaction fees, insurance bureau fund, insurance continuing education fees, insurance licensing and regulation fees, MBLSLA fund, and multiple employer welfare arrangement. * **Information Technology:** $2,344,300 is appropriated for information technology services and projects. This funding is derived from interdepartmental grants and special revenue funds including bank fees, captive insurance regulatory and supervision fund, consumer finance fees, credit union fees, deferred presentment service transaction fees, insurance bureau fund, insurance continuing education fees, insurance licensing and regulation fees, and MBLSLA fund. * **Contingency Authorizations:** The bill includes $1,000,000 for federal contingency authorization and $5,000,000 for state restricted contingency authorization, which can be transferred to other line items under specific conditions.