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FISCAL NOTE
Senate Bill 46
Committee: Banking and Insurance Sponsor: Senator Shay Shelnutt
Analyst: Jennifer Farish Date: 02/21/2024
Senate Bill 46 as introduced would increase receipts to: (1) the Insurance Department Fund and
the State General Fund from surplus line broker application and license fees by an undetermined
amount dependent upon the number of nonresident persons seeking licensure as a surplus line
broker; (2) the State General Fund from the per-policy fee established pursuant to the provisions
of this bill, by an undetermined amount dependent upon the fee set by the Department and the
number of surplus policies placed by filing surplus lines brokers; and (3) the State General Fund
from insurance premium taxes imposed on the per-policy fees placed by filing surplus lines
brokers.