State of Alaska
Fiscal Note
Bill Version: SB 87
2021 Legislative Session
Fiscal Note Number: 1
(S) Publish Date: 2/22/2021
Identifier: LL0584-1-DCCED-DOI-02-09-21 Department: Department of Commerce, Community and
Title: REINSURANCE; CREDITS Economic Development
Sponsor: RLS BY REQUEST OF THE GOVERNOR Appropriation: Insurance Operations
Requester: Governor Allocation: Insurance Operations
OMB Component Number: 354
Expenditures/Revenues
Note: Amounts do not include inflation unless otherwise noted below. (Thousands of Dollars)
Included in
FY2022 Governor's
Appropriation FY2022 Out-Year Cost Estimates
Requested Request
OPERATING EXPENDITURES FY 2022 FY 2022 FY 2023 FY 2024 FY 2025 FY 2026 FY 2027
Personal Services
Travel
Services
Commodities
Capital Outlay
Grants & Benefits
Miscellaneous
Total Operating 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Fund Source (Operating Only)
None
Total 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Positions
Full-time
Part-time
Temporary
Change in Revenues
None
Total 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Estimated SUPPLEMENTAL (FY2021) cost: 0.0 (separate supplemental appropriation required)
Estimated CAPITAL (FY2022) cost: 0.0 (separate capital appropriation required)
Does the bill create or modify a new fund or account? No
(Supplemental/Capital/New Fund - discuss reasons and fund source(s) in analysis section)
ASSOCIATED REGULATIONS
Does the bill direct, or will the bill result in, regulation changes adopted by your agency? No
If yes, by what date are the regulations to be adopted, amended or repealed? N/A
Why this fiscal note differs from previous version/comments:
Not applicable, initial version.
Prepared By: Lori Wing-Heier, Director Phone: (907)269-7896
Division: Division of Insurance Date: 02/04/2021 12:07 PM
Approved By: Micaela Fowler, Administrative Services Director, DCCED Date: 02/09/21
Agency: Office of Management and Budget
Printed 2/22/2021 Page 1 of 2 Control Code: GBxZe
 SB 87 - Fiscal Note 1
FISCAL NOTE ANALYSIS
STATE OF ALASKA BILL NO.
2021 LEGISLATIVE SESSION
Analysis
This legislation allows U.S. reinsurers easier financial access to qualified alien jurisdictions and makes reinsurance markets
in the U.S. more competitive by allowing qualified and well-capitalized alien reinsurers to compete in the U.S. market on a
more equitable basis.
The legislation is modeled on the Credit for Reinsurance Model Law #785 developed by the National Association of
Insurance Commissioners (NAIC). NAIC's Model Law #785 is being enacted across all 50 states and six territories. It is
expected that each jurisdiction will enact Model Law #785 by September 2022.
The Division of Insurance does not anticipate fiscal impact from this legislation.
(Revised 1/13/2021 OMB/LFD) Page 2 of 2
LL0584-1-DCCED-DOI-02-09-21 Page 2 of 2 Control Code: GBxZe


Statutes affected:
SB0087A, AM SB 87, introduced 02/22/2021, passed House 05/04/2021, passed Senate 03/31/2021: 21.12.020
SB0087Z, AM Enrolled SB 87, introduced 05/04/2021: 21.12.020
SB0087A, AM SB 87, introduced 02/22/2021: 21.12.020