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, insurance and financial services regulation, and information technology, while specifying the number of full-time equated positions for staff. The bill also establishes provisions for managing appropriations, emphasizing transparency and reporting requirements, and mandates that funds cannot be used to restrict access to government resources for marginalized communities. Additionally, it encourages the use of Michigan-based businesses for goods and services and outlines communication and travel reporting requirements for the department.

Moreover, the bill introduces new reporting requirements for state departments regarding grant programs and federal policy changes, mandating reports on unenforceable sections and quarterly updates on federal impacts. It establishes a structured process for grant administration, including eligibility criteria and documentation requirements, while emphasizing legislative sponsorship and monitoring of grant expenditures. The bill prohibits legislative sponsors from sponsoring grants with conflicts of interest and requires the department to refer any misuse of funds for internal audit review. It also allocates funds from the insurance bureau fund for legislative participation in insurance activities and mandates the department to enhance customer service, particularly in automobile insurance, through outreach plans and satellite offices in high-need areas.