MI HB6302

Requires the ultimate controlling person of every insurer subject to registration under section 1324 and scoped into the NAIC liquidity stress test framework to file annual liquidity stress test results with the lead state commissioner.

Changes to the NAIC liquidity stress test framework or data year measurement criteria become effective on January 1 of the year following NAIC adoption of the change.

Insurers meeting at least one threshold of the scope criteria are automatically scoped into the framework unless the lead state commissioner in consultation with the NAIC financial stability task force determines otherwise.

Insurers not meeting any scope criteria threshold are automatically scoped out unless the lead state commissioner in consultation with the NAIC financial stability task force determines they should be included.

The lead state commissioner must consider regulatory preferences to avoid frequent changes in which insurers are scoped in or out of the framework; stress test performance and results must comply with NAIC framework instructions and reporting templates.

Act takes effect only if six companion bills (HB 6297, 6298, 6299, 6300, 6301, and 6303) are also enacted into law.