HLS 12RS-1151 ENGROSSED
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Regular Session, 2012
HOUSE BILL NO. 625
BY REPRESENTATIVE ST. GERMAIN
INSURANCE: Provides with respect to the assessments against insurers
AN ACT1
To amend and reenact R.S. 22:1476(A)(2), relative to the dedication of assessments paid by2
certain insurers; to increase the dedication to the Municipal Fire and Police Civil3
Service Operating Fund; and to provide for related matters.4
Be it enacted by the Legislature of Louisiana:5
Section 1. R.S. 22:1476(A)(2) is hereby amended and reenacted to read as follows:6
ยง1476. Assessments against insurers; dedications7
A.8
* * *9
(2) An amount equal to two and one-fourth three-fourths hundredths of one10
percent of the gross direct premiums received in this state, in the preceding year; two11
and thirty-seven eighty-eight hundredths of one percent of the direct gross premiums12
received in this state, in the year 2001 2014; and two and one-half three hundredths13
of one percent of the direct gross premiums received in the state, in the year 200314
2016 and every year thereafter by insurers doing business in this state and subject to15
this Subpart, less returned premiums shall be deposited by the commissioner of16
insurance, subject to the approval of the commissioner of administration, with the17
state treasurer to be credited to a special fund created in the state treasury entitled the18
Municipal Fire and Police Civil Service Operating Fund, hereinafter known as the19
"fund". Subject to an annual appropriation by the legislature pursuant to the20
provisions of R.S. 33:2480 and 2540, monies in the fund shall be used solely to21 HLS 12RS-1151 ENGROSSED
HB NO. 625
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support the operations of the office of state examiner, Municipal Fire and Police1
Civil Service. Monies in the fund shall be invested by the treasurer in the same2
manner as monies in the state general fund and interest earned on investment of these3
monies shall be credited to the state general fund. All unexpended and4
unencumbered monies in the fund at the end of the fiscal year shall revert to the state5
general fund.6
* * *7
Section 2. This Act shall become effective on July 1, 2012; if vetoed by the governor8
and subsequently approved by the legislature, this Act shall become effective on July 1,9
2012, or on the day following such approval by the legislature, whichever is later.10
DIGEST
The digest printed below was prepared by House Legislative Services. It constitutes no part
of the legislative instrument. The keyword, one-liner, abstract, and digest do not constitute
part of the law or proof or indicia of legislative intent. [R.S. 1:13(B) and 24:177(E)]
St. Germain HB No. 625
Abstract: Incrementally increases the portion of the assessment paid by insures that will
be allocated to the Municipal Fire and Police Civil Service Operating Fund.
Present law requires the commissioner of insurance to levy an assessment, in an amount
proportionate to the amount of premiums collected in a particular year, against certain
insurers in the state. Further makes provisions for the amounts to be dedicated to the
Municipal Fire and Police Civil Service Operating Fund.
Proposed law increases the amount dedicated to the Municipal Fire and Police Civil Service
Operating Fund from two and one-fourth hundredths of 1% of the gross direct premiums
received in the year 1998; two and thirty-seven hundredths of 1% of the direct gross
premiums received in the year 2001; and two and one-half hundredths of 1% of the direct
gross premium received in the year 2003 and each following year, to two and three-fourths
hundredths of 1% of the premium received in 2011; two and eighty-eight hundredths of 1%
of the premiums received in the year 2014; and three hundredths of 1% of the premium
received in the year 2016 and each of the following years.
Present law provides that the commissioner of insurance shall deposit the amounts to be
dedicated with the state treasurer.
Proposed law provides that such deposit shall be subject to the approval of the commissioner
of administration.
Effective on July 1, 2012.
(Amends R.S. 22:1476(A)(2)) HLS 12RS-1151 ENGROSSED
HB NO. 625
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Summary of Amendments Adopted by House
Committee Amendments Proposed by House Committee on Appropriations to the
original bill.
1. Requires approval by the commissioner of administration of the deposit into the
Municipal Fire and Police Civil Service Operating Fund.