HI HB2603

Establishes a state self-insurance against property and casualty risks special fund administered by the comptroller through the risk manager to replace third-party insurance coverage.

Special fund covers claims for property losses caused by fire or other casualty, including costs to repair or replace buildings, replace damaged contents, and provide alternate structures during repairs.

Requires the governor to authorize annual transfer of $19,000,000 in general funds to the special fund to replace current annual insurance premium costs of approximately $19,000,000.

Comptroller may establish deductibles for state agencies, assess agencies for losses up to the deductible amount, and request emergency advances from other state treasury funds if the special fund balance becomes insufficient, with repayment over no more than ten years.

Appropriates unspecified amount of general revenues for fiscal year 2018-2019 to the special fund and takes effect July 1, 3000.