HB 722 Summary

• Appropriates $10,341,900 to the Department of Insurance for fiscal year 2023 (July 1, 2022 through June 30, 2023)

• Insurance Regulation program receives $9,088,600 total: $5,478,700 for personnel costs, $3,555,900 for operating expenditures, and $54,000 for capital outlay

• State Fire Marshal program receives $1,253,300 from the Arson, Fire and Fraud Prevention Fund for personnel and operating costs

• Authorizes the Department of Insurance to maintain no more than 71.5 full-time equivalent positions during the fiscal year, with gubernatorial approval required for any increases and Joint Finance-Appropriations Committee notification required

• Declares an emergency effective July 1, 2022