MS HB79

Extends the repeal date of Mississippi Code Section 83-34-4 from July 1, 2018 to July 1, 2022, maintaining the nonadmitted policy fee for surplus lines insurance.

Requires surplus lines insurance producers to collect and remit a 3% nonadmitted policy fee on all premiums from nonadmitted insurers, with exemptions for residential earthquake and flood risks.

Fee must be remitted to the association within 20 days after each quarter ends and is not subject to premium taxes or commissions, though failure to pay is treated as failure to pay premium.

Allows nonadmitted policy fee revenues to fund association activities including education, public outreach, and training programs designed to reduce policies within the association.

Takes effect July 1, 2018.