ND HB1101

Amends Section 26.1-22-14 of the North Dakota Century Code regarding the state fire and tornado fund reserve balance and assessment procedures.

Maintains the twelve million dollar minimum reserve balance threshold; when reserve falls below this amount, the commissioner levies assessments against policies based on insurance services office coinsurance rates.

Assessment cap remains at sixty percent of insurance services office rates for insured property, except when reserve balance drops below three million dollars.

Changes reporting requirement from biennium (odd-numbered years) to every five-year period, with submission deadline of December thirty-first instead of annually.

Changes data reporting period end date from July thirty-first to June thirtieth for premiums and losses data submitted to insurance services office.