The bill proposes appropriations for the Department of Insurance and Financial Services for the fiscal year ending September 30, 2026, with a gross appropriation of $78,051,600 and an adjusted gross appropriation of $77,287,800 after accounting for interdepartmental grant revenues. It details the allocation of funds across various categories, including departmental administration and insurance regulation, while establishing provisions for management, reporting, and transparency. Notably, the bill mandates that funds cannot be used to restrict access to government resources for marginalized communities and emphasizes the preference for Michigan-based businesses in procurement. It also requires the use of electronic payment methods for licenses and fees and mandates reporting on travel expenses and policy changes.

Additionally, the bill introduces new reporting requirements for state departments regarding grant programs and federal policy changes, including a 10-day report on unenforceable sections and quarterly updates on federal impacts. It outlines the grant application process, eligibility criteria, and stipulates that grant agreements must include project descriptions and clawback provisions for unspent funds. The bill emphasizes accountability by prohibiting legislative sponsors from conflicts of interest and requiring audits for misused funds. It also mandates timely expenditure of fiscal recovery funds by December 31, 2026, and includes specific reporting requirements for health insurance rate changes and consumer services, aiming to enhance oversight and support for consumers in the financial and insurance sectors.