The bill mandates the annual report for The Property and Casualty Initiative, LLC (PCI) for the year ending December 31, 2024, and introduces new legal language that requires the inclusion of a list of participating property and casualty insurance companies, as well as details on qualified investments totaling $19,806,386 and qualified interim investments amounting to $8,056,914. The report will also document regional public meetings and provide certified audited financial statements, highlighting the community benefits generated by PCI's investments, which focus on affordable housing, community services, and economic development initiatives.

Furthermore, the bill outlines PCI's economic development initiatives, ensuring compliance with existing legislation regarding investment distribution across various Massachusetts regions. It specifies that each region has received at least its base investment share, with total investments reaching $548,536,354. The report will also detail interim investments, including bank deposits and money market accounts, and will list member companies and their capital contributions, notably adding the Premier Insurance Company of Massachusetts to the list. The bill aims to enhance transparency and accountability in economic development efforts while supporting minority-owned businesses like Cruz Companies.