The proposed bill, if enacted, would amend existing statutes by incorporating a new definition for "political subdivision entity" and expanding the scope of entities eligible to procure insurance or establish self-insurance programs. Specifically, it would add political subdivision entities to the definition of "public agency" for intergovernmental operations, allowing these entities to procure insurance from any insurer authorized by the Director of the Department of Insurance and Financial Institutions (DIFI). This change aims to enhance the ability of local government entities to manage risks and provide benefits to their employees and officers.

Additionally, the bill would make several technical adjustments, including the replacement of the term "any" with "political subdivision entity" in various sections, ensuring clarity in the language regarding which entities can establish self-insurance programs. It would also clarify that any trust funds established for self-insurance must be administered according to specific guidelines, including the designation of trustees and the requirement for audits. Overall, these updates aim to streamline the insurance procurement process for political subdivisions while ensuring compliance with existing statutory requirements.

Statutes affected:
Introduced Version: 32-573
Senate Engrossed Version: 32-573
House Engrossed Version: 11-951, 11-981, 38-711
Chaptered Version: 11-951, 11-981, 38-711