HB6154 Summary

• Appropriates $23,480,100 from the Insurance Producer Administration Fund to the Department of Insurance for Producer Administration operations, including personal services ($11,192,000), retirement contributions ($4,738,600), and various operational expenses.

• Appropriates $27,273,800 from the Insurance Financial Regulation Fund to the Department of Insurance for Financial Regulation operations, with the largest allocation for personal services ($13,589,200).

• Appropriates $2,052,400 from the Public Pension Regulation Fund to the Department of Insurance for Pension Division operations.

• Provides additional appropriations of $700,000 for a Regulatory/G&A Shared Services Center, $750,000 for Producer Administration agency operations, $250,000 for Financial Regulation agency operations, $950,000 for the Insurance Fraud Division from the Workers' Compensation Commission Operations Fund, and $500,000 for Public Pension Regulation agency operations.

• Takes effect July 1, 2014.