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MS HB1294
Bill
Status
3/3/2020
Primary Sponsor
Gary Chism
Click for details
AI Summary
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Extends the repealer date for the nonadmitted policy fee from July 1, 2022 to July 1, 2023, maintaining the 3% fee on premiums from surplus lines insurance for nonadmitted insurers.
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Continues the current distribution requiring $3,500,000 from nonadmitted policy fees to be diverted to the Rural Fire Truck Fund or Supplementary Rural Fire Truck Fund annually from July 1, 2019 through June 30, 2021.
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Maintains exemptions from the nonadmitted policy fee for residential earthquake risks and residential flood risks not written through the National Flood Insurance Program.
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Takes effect July 1, 2020.
Legislative Description
Nonadmitted policy fee; extend repealer on and continue current distribution of and revise windpool board.
Last Action
Died In Committee
3/3/2020