ENGROSSED SENATE BILL NO. 166 - Summary

• Appropriates funds to the Insurance Department from the General Revenue Fund for fiscal year ending June 30, 2010 to perform duties imposed by law.

• Requires the Insurance Department to budget all funds in three categories: Administration, Regulatory/Enforcement, and Federal Programs (all allocated at $0.00 for this fiscal year).

• Authorizes the Insurance Commissioner to set employee duties and compensation not otherwise prescribed by law, with budgetary limitations on full-time-equivalent employees and expenditures.

• Sets budgetary limitations for the fiscal year ending June 30, 2010 at 0.0 full-time-equivalent employees and $0.00 for lease-purchase agreements.

• Effective date is September 1, 2009.