AK HB274

Establishes a $3 surcharge on property insurance policies issued or renewed in Alaska, collected by insurers at the time of issuance or renewal.

Requires insurers to submit surcharges collected quarterly to the director of insurance along with a report of the number of policies subject to the surcharge.

Excludes the surcharge from being considered a premium and exempts it from premium tax.

Directs surcharge revenue to the Department of Public Safety for activities of the Alaska Fire Standards Council or other public purposes as appropriated by the legislature.

Takes effect July 1, 2020, applying to property insurance contracts entered into or renewed on or after that date.