ND HB1026

Transfers administration of the state bonding fund from the Insurance Commissioner to the Office of Management and Budget (OMB)

Establishes fund balance thresholds: assessments collected when balance falls below $3 million, waived when balance exceeds $3 million, resumed when balance drops below $2 million

Sets minimum bond assessment at $2.50 per public employee per year, with state agencies and political subdivisions required to pay in advance

Authorizes OMB to contract with the North Dakota Insurance Reserve Fund or other entities for administrative services on two-year terms ending June 30 of odd-numbered years

Creates a continuing appropriation from the fund for paying claims, administrative services, state auditor investigation costs, and reinsurance costs