Bill > HB1010

This bill addresses several financial and administrative matters for the North Dakota Insurance Commissioner's office. It provides an appropriation of nearly $20.8 million for the 2025-2027 biennium, which includes funding for salaries, operating expenses, and grants, and increases the number of full-time equivalent positions from 47 to 57. The bill also increases registration fees for various financial professionals in the securities division, such as raising broker-dealer registration fees from $200 to $240 and agent registration fees from $60 to $75. Additionally, it increases the annual salary of the insurance commissioner from $130,000 to $139,256 through June 30, 2026, and to $143,434 thereafter. The bill introduces a new reporting requirement for government self-insurance pools, mandating that they provide a comprehensive report to the legislative management every two years, detailing claims activity, payment history, balances, complaint history, and executive compensation. The bill also includes provisions for one-time funding items like equipment purchases and accrued leave payouts, and allows the insurance commissioner to request transfers from a new and vacant FTE pool to the salaries and wages line item under specific guidelines.