Division of the Budget
Landon State Office Building Phone: (785) 296-2436
900 SW Jackson Street, Room 504 adam.c.proffitt@ks.gov
Topeka, KS 66612 http://budget.kansas.gov
Adam C. Proffitt, Director Laura Kelly, Governor
Division of the Budget
February 4, 2025
The Honorable Brenda Dietrich, Chairperson
Senate Committee on Financial Institutions and Insurance
300 SW 10th Avenue, Room 546-S
Topeka, Kansas 66612
Dear Senator Dietrich:
SUBJECT: Fiscal Note for SB 55 by Senate Committee on Financial Institutions and
Insurance
In accordance with KSA 75-3715a, the following fiscal note concerning SB 55 is
respectfully submitted to your committee.
SB 55 would define ‘assignment agreement’ as any instrument in which post-loss benefits
under a residential or commercial property insurance policy are assigned, transferred or acquired
in any other manner, in whole or in part, to or from a person providing services, including, but not
limited to, inspecting, protecting, repairing, restoring or replacing the property or mitigating
against further damage to the property. A person would not be allowed to solicit or accept an
assignment, in whole or in part, of any post-loss insurance benefit under a residential or
commercial property insurance policy and a violation of would be considered an unfair method of
competition and unfair or deceptive act or practice. An assignment agreement would be considered
against public policy and would be null and void. An assignment agreement would not apply to
an assignment, transfer, pledge or conveyance granted to a federally insured financial institution,
mortgagee or subsequent purchaser of the property or liability coverage under a residential or
commercial property insurance policy.
The Kansas Department of Insurance states that the bill would not have a fiscal effect on
agency operations.
Sincerely,
Adam C. Proffitt
Director of the Budget
cc: Kyle Strathman, Insurance Department