DE HB376

Increases insurance premium tax from 1/4% to 1/2% on most insurance policies in Delaware, generating approximately $3.00 additional cost per $1,200 in premiums.

Divides the increased tax revenue equally between two special funds: one for post-retirement increases for retired county and municipal police and firefighters, and one for health insurance coverage for these retirees.

Establishes a medical insurance benefit component for retired county and municipal police and firefighters under the Delaware County and Municipal Police and Firefighter Plan, with retirees paying 20% of premiums and the special fund covering 80%.

Provides health insurance coverage for survivors of police and firefighters killed in the line of duty after August 30, 2009, with initial reimbursement through non-profit organizations until the fund is fully funded.

Requires counties and municipalities requesting post-retirement increases to contribute 25% of the actuarial cost, and allows unused funds to revert to the General Fund after 5 years if not utilized by eligible jurisdictions.