HB 5513 - Department of Insurance and Financial Services Appropriations

• Appropriates $77,771,400 in gross funding for the Department of Insurance and Financial Services for fiscal year ending September 30, 2025, with $76,317,900 from state restricted revenues and $0 from general purpose funds.

• Authorizes 6.0 full-time unclassified positions and 395.5 full-time classified positions across departmental administration, insurance and financial services regulation, and information technology divisions.

• Breaks down appropriations by major divisions: Departmental Administration and Support ($7,564,200), Insurance and Financial Services Regulation ($67,588,100), Information Technology ($2,369,100), and one-time Insurance Complaints and Health Care Appeals Outreach Campaign ($250,000).

• Funds derived primarily from special revenue sources including insurance bureau fund, bank fees, credit union fees, consumer finance fees, deferred presentment service fees, and insurance licensing and regulation fees.

• Includes general provisions requiring reports on out-of-state travel, state restricted fund balances, full-time position status, and implementation of public act changes; mandates transparency through searchable public website and establishes restrictions on use of funds for foreign goods when American alternatives are available.