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ENGROSSED HOUSE
BILL NO. 1512 By: Tedford and Hill of the
House
and
Paxton of the Senate
An Act relating to insurance; granting the Oklahoma
Insurance Commissioner certain authority related to
the Patient Protection and Affordable Care Act;
providing definition; creating the State -based
Exchange Revolving Fund; providing purpose of fund;
providing for certain monies to be deposited to fund;
providing for codification; providing an effective
date; and declaring an emergency.
BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
SECTION 1. NEW LAW A new section of law to be codified
in the Oklahoma Statutes as Section 4606 of Title 36, unless there
is created a duplication in numbering, reads as follows:
A. The Oklahoma Insurance Commissioner shall have the authority
to implement, establish, create, administer, or otherwise operate an
exchange, promulgate rules, and apply to the United States Secretary
of Health and Human Services for a waiver pursu ant to Section 1332
of the Patient Protection and Affordable Care Act (42 U.S.C.,
Section 18052).
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B. "Exchange" means a state, federal, or partnership exchange
or marketplace operating in Oklahoma pursuant to Section 1311 of the
Patient Protection and Affordable Care Act.
SECTION 2. NEW LAW A new section of law to be codified
in the Oklahoma Statutes as Section 4606.1 of Title 36, unless there
is created a duplication in numbering, reads as follows:
A. There is hereby created in th e State Treasury a revolving
fund for the Insurance Department, to be designated the "State -based
Exchange Revolving Fund". The fund shall be a continuing fund, not
subject to fiscal year limitations, and shall consist of any monies
deposited to the fund for the creation, i mplementation,
administration, and operation of the State -based Exchange as
authorized in subsection A of Section 1 of this act. All monies
accruing to the credit of the fund are hereby appropriated and may
be budgeted and expended by t he Department for the creation,
implementation, administration, and operation of the State -based
Exchange. Warrants for expenditures from the revolving fund shall
be drawn by the State Treasurer, based on claims signed by an
authorized employee or employees of the Insurance Department, and
filed with the Director of the Office of Management and Enterprise
Services.
B. Notwithstanding any law to the contrary, all monies,
including but not limited to user fees, paid to or collected by the
Insurance Commissioner in relation to the State-based Exchange shall
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be deposited in the State -based Exchange Revolving Fund. Monies
shall not lapse, unless otherwise specified under federal funding or
federal grant, or a grant or funds from another source, or be
transferred to the State In surance Commissioner Revolving Fund or
other state funds and shall not be redistributed.
SECTION 3. This act shall become effective July 1, 2025.
SECTION 4. It being immediately necessary for the preserv ation
of the public peace, health or safety, an emergency is hereby
declared to exist, by reason whereof this act shall take effect and
be in full force from and after its passage and approval.
Passed the House of Representatives the 10th day of March, 2025.
Presiding Officer of the House
of Representatives
Passed the Senate the ___ day of __________, 2025.
Presiding Officer of the Senate