Bill > HB5513

This bill appropriates funds for the Department of Insurance and Financial Services (DIFS) for the fiscal year ending September 30, 2025. The key provisions are: - It appropriates a total of $77,771,400 in gross appropriations for DIFS, with $76,317,900 coming from other state restricted revenues and $700,000 from federal revenues. - The bill provides funding for DIFS' departmental administration and support, insurance and financial services regulation, and information technology services and projects. - It includes one-time appropriations of $250,000 for an insurance complaints and health care appeals outreach campaign. - The bill also includes various general sections related to the appropriations, such as restrictions on the use of funds, reporting requirements, and provisions concerning state spending and the management and budget act. - Additionally, the bill has sections specific to the regulation of insurance and financial services, such as requirements for transmitting certain reports and providing access to non-confidential information. Overall, this bill provides the necessary appropriations for DIFS to carry out its regulatory responsibilities for insurance and financial services in the upcoming fiscal year.

Budget and Finance

http://legislature.mi.gov/doc.aspx?2024-HB-5513