This bill amends various sections of the North Dakota Century Code to transfer the administration of the state fire and tornado fund from the insurance commissioner to the office of management and budget. Key changes include the establishment of a continuing appropriation for the fund, new definitions such as "North Dakota insurance reserve fund" and "state agency," and the repeal of outdated provisions related to the fund's administration. The bill outlines the responsibilities of the office in managing the fund, including providing insurance coverage for state agencies and political subdivisions, requiring replacement cost appraisals for insured properties every six years, and emphasizing accurate record-keeping and reporting.

Additionally, the bill introduces significant insertions and deletions to streamline insurance processes and enhance coverage options. It mandates the office to certify insurance assessments and develop guidelines for determining insurable property values, while allowing the purchase of insurance from authorized companies for public buildings and libraries. Notably, it removes provisions for competitive sealed bids for insuring public buildings and conditions for vandalism coverage for libraries. The bill also establishes new arbitration procedures for disputes regarding insurable value or loss and outlines liability for political subdivisions that violate state law. Lastly, it calls for a legislative study during the 2025-26 interim to assess the feasibility of removing political subdivisions from the state fire and tornado fund.

Statutes affected:
PREFILED: 26.1-01-03, 26.1-22-01, 26.1-22-02, 26.1-22-02.1, 26.1-22-03.1, 26.1-22-09, 26.1-22-10, 26.1-22-11, 26.1-22-14, 26.1-22-16, 26.1-22-17, 26.1-22-21, 26.1-22-22, 26.1-23.1-01, 37-03-13
Adopted by the House Industry, Business and Labor Committee: 26.1-01-03, 26.1-22-01, 26.1-22-02, 26.1-22-02.1, 26.1-22-03.1, 26.1-22-09, 26.1-22-10, 26.1-22-11, 26.1-22-14, 26.1-22-16, 26.1-22-17, 26.1-22-21, 26.1-22-22, 26.1-23.1-01, 37-03-13
FIRST ENGROSSMENT: 26.1-01-03, 26.1-22-01, 26.1-22-02, 26.1-22-02.1, 26.1-22-03.1, 26.1-22-09, 26.1-22-10, 26.1-22-11, 26.1-22-14, 26.1-22-16, 26.1-22-17, 26.1-22-21, 26.1-22-22, 26.1-23.1-01, 37-03-13
Adopted by the Senate Industry and Business Committee: 26.1-01-03, 26.1-22-01, 26.1-22-02, 26.1-22-02.1, 26.1-22-03.1, 26.1-22-09, 26.1-22-10, 26.1-22-11, 26.1-22-14, 26.1-22-16, 26.1-22-17, 26.1-22-21, 26.1-22-22, 26.1-23.1-01, 37-03-13
Enrollment: 26.1-01-03, 26.1-22-01, 26.1-22-02, 26.1-22-02.1, 26.1-22-03.1, 26.1-22-09, 26.1-22-10, 26.1-22-11, 26.1-22-14, 26.1-22-16, 26.1-22-17, 26.1-22-21, 26.1-22-22, 26.1-23.1-01, 37-03-13
INTRODUCED: 26.1-01-03, 26.1-22-01, 26.1-22-02, 26.1-22-02.1, 26.1-22-03.1, 26.1-22-09, 26.1-22-10, 26.1-22-11, 26.1-22-14, 26.1-22-16, 26.1-22-17, 26.1-22-21, 26.1-22-22, 26.1-23.1-01, 37-03-13