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Bill > SB0637
MI SB0637
MI SB0637Insurance: reinsurance; innovative waiver for a reinsurance program; provide for. Amends 1956 PA 218 (MCL 500.100 - 500.8302) by adding sec. 3406nn. TIE BAR WITH: SB 0633'23
summary
Introduced
11/01/2023
11/01/2023
In Committee
06/26/2024
06/26/2024
Crossed Over
06/26/2024
06/26/2024
Passed
Dead
12/31/2024
12/31/2024
Introduced Session
102nd Legislature
Bill Summary
A bill to amend 1956 PA 218, entitled"The insurance code of 1956,"(MCL 500.100 to 500.8302) by adding section 3406nn.
AI Summary
This bill authorizes the Michigan Department of Insurance and Financial Services (DIFS) to apply for a federal Section 1332 State Innovation Waiver to establish a reinsurance program. The bill requires DIFS to make a draft application available for public comment and to provide it to relevant legislative committees before submitting the final application. Once the waiver is approved, DIFS must implement the reinsurance program and report to the legislature on the necessary funding. The bill is tied to the passage of Senate Bill 633, which is not provided in the given text.
Committee Categories
Business and Industry, Health and Social Services
Sponsors (1)
Last Action
House Insurance and Financial Services (09:00:00 12/12/2024 Room 521, House Office Building) (on 12/12/2024)
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 | http://legislature.mi.gov/doc.aspx?2023-SB-0637 |
| Fiscal Note/Analysis - Senate: ANALYSIS AS PASSED BY THE SENATE | https://legislature.mi.gov/documents/2023-2024/billanalysis/Senate/pdf/2023-SFA-0633-U.pdf |
| BillText | https://legislature.mi.gov/documents/2023-2024/billengrossed/Senate/htm/2023-SEBS-0637.htm |
| Fiscal Note/Analysis - Senate: SUMMARY OF BILL ON THIRD READING | https://legislature.mi.gov/documents/2023-2024/billanalysis/Senate/pdf/2023-SFA-0633-B.pdf |
| Fiscal Note/Analysis - SUMMARY OF BILL REPORTED FROM COMMITTEE | https://legislature.mi.gov/documents/2023-2024/billanalysis/Senate/pdf/2023-SFA-0633-F.pdf |
| Fiscal Note/Analysis - SUMMARY OF INTRODUCED BILL IN COMMITTEE | https://legislature.mi.gov/documents/2023-2024/billanalysis/Senate/pdf/2023-SFA-0633-G.pdf |
| BillText | http://www.legislature.mi.gov/documents/2023-2024/billintroduced/Senate/htm/2023-SIB-0637.htm |
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