Kansas 2023-2024 Regular Session

Kansas House Bill HB2715

Introduced

2/6/24

Refer

2/6/24

Report Pass

2/20/24

Engrossed

2/28/24

Refer

2/29/24

Report Pass

3/13/24

Failed

4/30/24

Caption

Authorizing the commissioner of insurance to set the amount of certain fees and requiring the publication of such fees in the Kansas register.

Impact

This bill is poised to have significant implications for the insurance sector in Kansas. By centralizing the authority to set and publish fees under the commissioner's purview, the bill seeks to streamline the regulatory landscape for insurance providers. It could also enhance regulatory compliance by ensuring that all parties are aware of the current fee structures, thereby reducing confusion and potential disputes over fees. Moreover, the regular publication of these fees in the Kansas Register aims to foster transparency, allowing stakeholders to stay informed about changes affecting their businesses.

Summary

House Bill 2715 is a legislative measure that empowers the Commissioner of Insurance in Kansas with the authority to set various insurance-related fees and requires these fees to be published in the Kansas Register. This bill proposes amendments to several existing statutes, specifying that the commissioner will establish the amounts for license application fees, annual renewal fees, and other associated costs for insurance companies and related organizations operating within the state of Kansas. The aim is to ensure a more transparent and consistent framework for insurance entities in regards to financial obligations and licensing processes.

Contention

Debate around HB 2715 may arise from concerns about the extent of authority granted to the commissioner regarding fee-setting. Opponents could argue that such power might lead to arbitrary or excessive fee increases, putting undue financial pressure on insurers, especially smaller companies. Proponents, however, are likely to assert that the regulation aims to simplify and modernize the insurance fee structure, ultimately benefiting the state's insurance market and consumers by promoting a competitive and fair environment.

Latest HB2715 Activity

Companion Bills

No companion bills found.

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