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 as outlined in Section 27-2-1 and Title 27 of the Code of Alabama 1975, which are expressly preserved under this act.

The bill reflects the recommendations of the Sunset Committee, which has determined that the Department of Insurance should remain active for an additional period. The act is set to take effect on May 31, 2024, following its passage in both the Senate and the House of Representatives. There are no deletions from current law noted in the text of the bill.