House Bill No. [insert bill number] aims to revise existing laws regarding the statutory appropriation of reinsurance association member assessments. The bill amends Sections 17-7-502 and 33-22-1321 of the Montana Code Annotated (MCA) to establish a statutory appropriation for the reinsurance program account, which is to be administered by the commissioner. Specifically, it inserts language that states the money in the reinsurance program account is statutorily appropriated to the commissioner for the purposes outlined in the bill. Additionally, the bill outlines the sources of funding for this account, including assessments collected under 33-22-1313 and any interest or income earned.

Furthermore, the bill includes a coordination instruction that voids appropriations to the commissioner for Montana reinsurance association member assessments in House Bill No. 2 if both bills are passed and contain a statutory appropriation for 33-22-1321. The act is set to take effect immediately upon passage and approval, and it includes a termination date of June 30, 2031. This legislative change is intended to streamline the funding process for the reinsurance program and ensure that the necessary financial resources are available for its administration and operation.

Statutes affected:
LC Text: 17-7-502, 33-22-1321
HB0281_1(1): 17-7-502, 33-22-1321
HB0281_1(2): 17-7-502, 33-22-1321
HB0281_1(3): 17-7-502, 33-22-1321
HB0281_1(4): 17-7-502, 33-22-1321
HB0281_1(5): 17-7-502, 33-22-1321
HB0281_1(6): 17-7-502, 33-22-1321
HB0281_1(7): 17-7-502, 33-22-1321
HB0281_1: 17-7-502, 33-22-1321
HB0281_2(1): 17-7-502, 33-22-1321
HB0281_2(10): 17-7-502, 33-22-1321
HB0281_2(2): 17-7-502, 33-22-1321
HB0281_2(3): 17-7-502, 33-22-1321
HB0281_2(4): 17-7-502, 33-22-1321
HB0281_2(5): 17-7-502, 33-22-1321
HB0281_2(6): 17-7-502, 33-22-1321
HB0281_2(7): 17-7-502, 33-22-1321
HB0281_2(8): 17-7-502, 33-22-1321
HB0281_2(9): 17-7-502, 33-22-1321
HB0281_2: 17-7-502, 33-22-1321