CT SB01115

Establishes a 5% surcharge on insurance companies licensed in Connecticut that receive premium payments from fossil fuel companies, effective October 1, 2023.

Defines "fossil fuel company" as any entity involved in exploration and production of coal, oil, natural gas, propane, or other petroleum products, excluding renewable biomass and waste vegetable oil biodiesel.

Requires the Insurance Department to identify and report total premium amounts received from fossil fuel companies by each insurer, with initial reporting by January 1, 2024 and annually thereafter.

Allocates collected surcharge revenue with 70% deposited to the General Fund for the Commissioner of Energy and Environmental Protection and 30% to the Insurance Fund.