Bill > HB281

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.

Budget and Finance

https://bills.legmt.gov/#/laws/bill/2/LC4258