summary
Introduced
01/22/2025
01/22/2025
In Committee
02/14/2025
02/14/2025
Crossed Over
02/14/2025
02/14/2025
Passed
04/24/2025
04/24/2025
Dead
Signed/Enacted/Adopted
05/12/2025
05/12/2025
Introduced Session
2025 Regular Session
Bill Summary
AN ACT REVISING LAWS TO PROVIDE STATUTORY APPROPRIATION OF REINSURANCE ASSOCIATION MEMBER ASSESSMENTS; AMING SECTIONS 17-7-502 AND 33-22-1321, MCA; AND PROVIDING AN IMMEDIATE EFFECTIVE DATE AND A TERMINATION DATE.”
AI Summary
This bill revises Montana state law to provide a statutory appropriation for the state's reinsurance program assessments. Specifically, the bill modifies two existing statutes: Section 17-7-502, which defines statutory appropriations, and Section 33-22-1321, which governs the reinsurance program account. The bill adds the reinsurance program account (Section 33-22-1321) to the list of laws with statutory appropriations, which means the money in this account can be spent by the commissioner without requiring a specific legislative budget approval each time. The reinsurance program account will continue to receive assessments collected from insurance companies, interest earnings, and other funding sources, and can be used to cover administrative, operational, and claims expenses related to the reinsurance program. If House Bill No. 2 (the main budget bill) is also passed, any appropriations for reinsurance association member assessments in that bill will be voided. The bill is effective immediately upon passage and will terminate on June 30, 2031, providing a clear timeframe for this statutory appropriation mechanism.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Chapter Number Assigned (on 05/16/2025)
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://bills.legmt.gov/#/laws/bill/2/LC4258 |
State Bill Page | https://bills.legmt.gov/#/lc/bill/2/LC4258 |
BillText | https://docs.legmt.gov/download-ticket?ticketId=e6e00522-cb81-4771-94dc-d69584c8bcb9 |
BillText | https://docs.legmt.gov/download-ticket?ticketId=e585aece-4911-46b5-82e5-2a0b59ebe854 |
Fiscal Note HB0281_1 | https://docs.legmt.gov/download-ticket?ticketId=51d31c42-14c3-4b8a-b558-16c779cad2b7 |
BillText | https://docs.legmt.gov/download-ticket?ticketId=fc69825b-a9b0-44f6-a83f-7abd55d4566f |
BillText | https://api.legmt.gov/docs/v1/documents/getContent?documentId=272480 |
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