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LA HB401
Bill
Status
6/4/2025
Primary Sponsor
Kellee Dickerson
Click for details
AI Summary
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Unexpended and unencumbered monies in the Insurance Fraud Investigation Dedicated Fund Account at the end of each fiscal year will now remain in the account rather than being refunded pro-rata to insurers licensed in Louisiana
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Repeals R.S. 40:1428(A)(3), which contained certain fee reduction provisions related to assessments on direct premiums of insurers
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Monies in the account are dedicated exclusively for the fraud unit, fraud support unit, and insurance fraud section operations
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Funds deposited into the account are categorized as fees and self-generated revenue for executive budget reporting purposes and remain available for annual legislative appropriation
Legislative Description
Provides relative to certain assessed fees on direct premiums of insurers
INSURANCE DEPARTMENT
Last Action
Effective date: 06/04/2025.
6/4/2025