MS HB211

Removes the Mississippi Department of Insurance from the requirement that it be funded by appropriations from the State General Fund, allowing it to operate on a self-funded basis through fees and assessments.

Requires all unexpended amounts in the Insurance Department Fund exceeding $500,000 at the end of each fiscal year to lapse into the State General Fund beginning in fiscal year 2022.

Deletes provisions across multiple insurance code sections that previously mandated General Fund appropriations, allowing fees and penalties to remain in the Insurance Department Fund rather than reverting to the General Fund.

Maintains existing fee structures for various insurance-related services and maintains the maximum annual contribution cap of $750,000 for property and casualty insurance companies and life and health insurance companies to the Insurance Department Fund.

Takes effect July 1, 2021.