Bill

Bill > HB281


MT HB281

Provide statutory appropriation of reinsurance program assessments


summary

Introduced
01/22/2025
In Committee
02/14/2025
Crossed Over
02/14/2025
Passed
04/24/2025
Dead
Signed/Enacted/Adopted
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)

bill text


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