Bill > SB483

This bill modifies reporting requirements for several state departments, primarily in the insurance and securities sectors. The legislation repeals the State Securities Department's quarterly reporting mandate, which previously required detailed documentation of funds received through court orders or settlement agreements, including case names, amounts, disbursement plans, and specific activity breakdowns. For the State Insurance Department, the bill amends the annual report requirements, adding a new section mandating a summary of health insurance fraud investigation activities, such as referrals received, investigations initiated and completed, and other relevant information. The bill also eliminates several existing reporting obligations, including an annual report from the Risk Management Division Administrator to the Governor and Legislative Council, and removes a biannual reporting requirement for craniofacial insurance coverage, replacing it with a report that will only be submitted upon specific request from committee cochairs. Additionally, the bill modifies reporting requirements related to the Arkansas Workers' Compensation Insurance Plan by removing the detailed annual review and reporting process to legislative committees. Overall, the legislation aims to streamline and reduce administrative reporting burdens for state departments.

Business and Industry

https://arkleg.state.ar.us/Bills/Detail?id=sb483&ddBienniumSession=2025%2F2025R