The bill, known as SB134, aims to extend the existence and operations of the Department of Insurance in Alabama until October 1, 2028, in accordance with the Alabama Sunset Law. The legislation incorporates new legal language that states the Department of Insurance will continue to function, preserving the relevant code sections under Title 27 of the Code of Alabama 1975. The bill reflects the recommendations of the Sunset Committee, which has reviewed the Department's performance and deemed it necessary for continued operation.

Additionally, the bill specifies that it will take effect on May 31, 2024. There are no deletions from current law noted in the text, as the focus is solely on the continuation of the Department's existence and the preservation of existing code sections. The bill has passed both the Senate and the House of Representatives, indicating legislative support for the Department's ongoing role in Alabama's governance.