NC S349

Increases the additional tax rate on property coverage insurance contracts from 0.74% to 1.125% of gross premiums.

Raises the Volunteer Fire Department Fund allocation from 20% to 19% of net proceeds from the property coverage tax.

Reduces the Department of Insurance disbursement allocation from 20% to 16% of net proceeds.

Reduces the Workers' Compensation Fund allocation from up to 20% to up to 13% of net proceeds.

Takes effect July 1, 2019.