Bill > SB499

This bill eliminates several reporting requirements for different state departments, specifically the State Securities Department, State Insurance Department, and Risk Management Division. In Section 1, the bill completely repeals the requirement for the State Securities Department to submit quarterly reports to the Legislative Council detailing funds received from court orders or settlement agreements, including specifics about fund disbursement and activities. In Section 2, the bill modifies the State Insurance Department's annual report to include a summary of health insurance fraud investigation activities, which was previously a separate reporting requirement that is now eliminated in Section 3. Section 4 removes the annual reporting requirement for the Risk Management Division Administrator to the Governor and Legislative Council. Section 5 eliminates the annual reporting process for the Arkansas Health Insurance Marketplace's assessment and user fees, and Section 6 removes the annual reporting requirement for the Arkansas Workers' Compensation Insurance Plan's operations. Finally, Section 7 changes the reporting requirements for Wendelyn's Craniofacial Law, shifting from mandatory biannual reports to reports that are only submitted upon specific request from committee cochairs. Overall, the bill streamlines and reduces mandatory reporting obligations for several state insurance and securities-related entities.

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https://arkleg.state.ar.us/Bills/Detail?id=sb499&ddBienniumSession=2025%2F2025R