Arkansas 2025 Regular Session

Arkansas Senate Bill SB499 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1	Stricken language would be deleted from and underlined language would be added to present law.
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3	3	State of Arkansas 1
4	4	95th General Assembly A Bill 2
5	5	Regular Session, 2025 SENATE BILL 499 3
6	6	4
7	7	By: Senators Irvin, J. Dismang, Gilmore, Hester, M. McKee, Stone, Hill, J. Petty, Flippo, B. Davis, J. 5
8	8	Boyd, K. Hammer, J. English 6
9	9	By: Representative J. Moore 7
10	10	8
11	11	For An Act To Be Entitled 9
12	12	AN ACT TO REPEAL CERTAIN REPORTING REQUIREMENTS FOR 10
13	13	THE STATE INSURANCE DEPARTMENT AND THE STATE 11
14	14	SECURITIES DEPARTMENT; TO REVISE CERTAIN REPORTING 12
15	15	REQUIREMENTS FOR THE STATE INSURANCE DEPARTMENT; AND 13
16	16	FOR OTHER PURPOSES. 14
17	17	15
18	18	16
19	19	Subtitle 17
20	20	TO REPEAL CERTAIN REPORTING REQUIREMENTS 18
21	21	FOR THE STATE INSURANCE DEPARTMENT AND 19
22	22	THE STATE SECURITIES DEPARTMENT; AND TO 20
23	23	REVISE CERTAIN REPORTING REQUIREMENTS 21
24	24	FOR THE STATE INSURANCE DEPARTMENT. 22
25	25	23
26	26	BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF ARKANSAS: 24
27	27	25
28	28	SECTION 1. Arkansas Code § 23 -42-111 is repealed. 26
29	29	23-42-111. Quarterly reports. 27
30	30	(a) The State Securities Department shall provide to the Legislative 28
31	31	Council, or to the Joint Budget Committee if the General Assembly is in 29
32	32	session, on a quarterly basis a report of all funds received or any external 30
33	33	fund transactions recognized or required through court orders or settlement 31
34	34	agreements. 32
35	35	(b) The report required under subsection (a) of this section shall 33
36	36	include: 34
37	37	(1) The case name of the court order or settlement agreement; 35
38	38	(2) The amount of funds received or transaction recognized or 36 SB499
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41	41	required by the department for each court order or settlement agreement; 1
42	42	(3)(A) A plan for disbursement of the received funds. 2
43	43	(B) If funds received from a court order or settlement 3
44	44	agreement are expended for any purpose, including investor education and 4
45	45	enforcement activities, the report shall itemize specific activities subject 5
46	46	to the exclusions provided in § 25 -1-403(1)(B); 6
47	47	(4) An itemization of the specific investor education and 7
48	48	enforcement activities funded for the department; 8
49	49	(5) An explanation of whether the funds received or transactions 9
50	50	recognized or required from a court order or settlement agreement are 10
51	51	directed to a specific entity, and if so, the department shall provide a 11
52	52	summary of input regarding the drafting of the court order or settlement 12
53	53	agreement; 13
54	54	(6) A report of the rationale for disbursing funds to a specific 14
55	55	entity if the department receives funds from a court order or settlement 15
56	56	agreement that does not require disbursement of funds to a specific entity; 16
57	57	and 17
58	58	(7) A report of current balances of all unappropriated fund 18
59	59	holdings the department received from a court order or settlement agreement. 19
60	60	(c) The department shall provide the reports required under this 20
61	61	section no later than the fifteenth day of the month immediately following 21
62	62	the end of each quarter. 22
63	63	23
64	64	SECTION 2. Arkansas Code § 23 -61-112(a), concerning the information 24
65	65	required in the annual report of the State Insurance Department, is amended 25
66	66	to read as follows: 26
67	67	(a) As early in the calendar year as reasonably possible, the 27
68	68	Insurance Commissioner annually shall prepare and deliver a report to the 28
69	69	Secretary of the Department of Commerce showing, with respect to the 29
70	70	preceding calendar year: 30
71	71	(1) Names of the authorized insurers transacting insurance in 31
72	72	this state, with a summary of their financial statements that the 32
73	73	commissioner considers proper; 33
74	74	(2) Names of admitted insurers that closed during the year or 34
75	75	entered liquidation, a concise statement concerning the cause for each 35
76	76	proceeding, and the amount of assets and liabilities as ascertainable; 36 SB499
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79	79	(3) The total receipts and expenses of the State Insurance 1
80	80	Department for the year; and 2
81	81	(4) A summary of the department's activities to investigate and 3
82	82	combat health insurance fraud, including without limitation information 4
83	83	regarding: 5
84	84	(A) Referrals received; 6
85	85	(B) Investigations initiated; 7
86	86	(C) Investigations completed; and 8
87	87	(D) Other material necessary or desirable to evaluate the 9
88	88	department's efforts to investigate and combat health insurance fraud; and 10
89	89	(5) Other pertinent information and matters the commissioner 11
90	90	considers proper. 12
91	91	13
92	92	SECTION 3. Arkansas Code § 23 -61-116 is repealed. 14
93	93	23-61-116. Annual report on health insurance fraud. 15
94	94	Annually on or before March 1, the Insurance Commissioner shall submit 16
95	95	to the Secretary of the Department of Commerce, the President Pro Tempore of 17
96	96	the Senate, the Speaker of the House of Representatives, and the Attorney 18
97	97	General a report summarizing the State Insurance Department's activities to 19
98	98	investigate and combat health insurance fraud, including without limitation 20
99	99	information regarding: 21
100	100	(1) Referrals received; 22
101	101	(2) Investigations initiated; 23
102	102	(3) Investigations completed; and 24
103	103	(4) Other material necessary or desirable to evaluate the 25
104	104	department's efforts under this section. 26
105	105	27
106	106	SECTION 4. Arkansas Code § 23 -61-610 is repealed. 28
107	107	23-61-610. Annual report. 29
108	108	The Administrator of the Risk Management Division shall report annually 30
109	109	to the Governor and the Legislative Council on his or her findings and 31
110	110	recommendations. 32
111	111	33
112	112	SECTION 5. Arkansas Code § 23 -61-805(a), concerning reports of the 34
113	113	assessment and user fee under the Arkansas Health Insurance Marketplace, is 35
114	114	amended to read as follows: 36 SB499
115	115
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117	117	(a)(1) The General Assembly shall establish a reasonable initial 1
118	118	assessment or user fee and reasonable increases or decreases in the amount of 2
119	119	future assessments or user fees and penalties and interest charges for 3
120	120	nonpayment of an assessment or user fee charged to participating health 4
121	121	insurers for the efficient operation of the Arkansas Health Insurance 5
122	122	Marketplace. 6
123	123	(2) Annually by October 1, the State Insurance Department shall 7
124	124	report to the Legislative Council in the manner and format that the 8
125	125	Legislative Council requires the recommendations of the department for the 9
126	126	initial assessment or user fee and increases or decreases in the amount of 10
127	127	future assessments or user fees and penalties and interest charges for 11
128	128	nonpayment of an assessment or user fee charged to participating health 12
129	129	insurers. 13
130	130	(3) Annually by December 1, the Legislative Council shall review 14
131	131	the recommendations of the department under subdivision (a)(2) of this 15
132	132	section and report to the President Pro Tempore of the Senate and the Speaker 16
133	133	of the House of Representatives the recommendations of the Legislative 17
134	134	Council for the initial assessment or user fee and future increases or 18
135	135	decreases in the amount of assessments or user fees and penalties and 19
136	136	interest charges for nonpayment of an assessment or user fee charged to 20
137	137	participating health insurers. 21
138	138	22
139	139	SECTION 6. Arkansas Code § 23 -67-313(b) and (c), concerning the report 23
140	140	of the Arkansas Workers' Compensation Insurance Plan and servicing carriers, 24
141	141	are amended to read as follows: 25
142	142	(b) The commissioner shall review the plan operations to ensure 26
143	143	compliance with this act. The commissioner shall review and report to the 27
144	144	Legislative Council and the Senate Committee on Insurance and Commerce and 28
145	145	the House Committee on Insurance and Commerce by September 1 of each year, 29
146	146	with the first report to be submitted no later than September 1, 1997, 30
147	147	including, but not limited to, the following information: 31
148	148	(1) Competitive selection of the administrator and servicing 32
149	149	carriers; 33
150	150	(2) Plan operating performance and service in accordance with 34
151	151	the intent of this act, including performance reviews of the administrator, 35
152	152	servicing carriers, and plan rules; 36 SB499
153	153
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155	155	(3) Proper authority and independence of the Arkansas office to 1
156	156	properly perform and secure prompt, fair, and reasonable service as required 2
157	157	by this act; and 3
158	158	(4) Coverage provided by the plan in other states, including 4
159	159	evidence providing that carriers promptly provide coverage for employees of 5
160	160	Arkansas employers working in other states as provided in this act. 6
161	161	(c) The commissioner is encouraged to hold public hearings as needed 7
162	162	to assist in achieving the objectives of this act and to assist with the 8
163	163	review and report provided to the Legislative Council and the Senate 9
164	164	Committee on Insurance and Commerce and the House Committee on Insurance and 10
165	165	Commerce. 11
166	166	12
167	167	SECTION 7. Arkansas Code § 23-79-1503(c), concerning the rules and 13
168	168	reporting requirements under Wendelyn's Craniofacial Law — Craniofacial 14
169	169	Coverage, is amended to read as follows: 15
170	170	(c) The department shall submit biannual reports a report to the Chair 16
171	171	of the House Committee on Insurance and Commerce and the Chair of the Senate 17
172	172	Committee on Insurance and Commerce upon receipt of a request from: 18
173	173	(1) A cochair of the House Committee on Insurance and Commerce; 19
174	174	or 20
175	175	(2) A cochair of the Senate Committee on Insurance and Commerce . 21
176	176	22
177	177	23
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190	190	36