Bill Text | History of Actions | Background | Title |
Description: Mississippi Windstorm Underwriting Association; use portion of state gaming license fee to assist in defraying reinsurance costs.
Bill Text: [Introduced]
| 1 | 01/02 (H) Referred To Ways and Means | |
| 2 | 01/30 (H) Died In Committee |
| Effective date | Passage | |
| Disposition | Dead | |
| Deadline | General Bill/Constitutional Amendment | |
| Revenue | No | |
| Vote type required | Majority |
House Committee:
Principal Author: Peranich
Additional Author: Upshaw
Code Section: A 075-0076-0129
Title: AN ACT TO CREATE A SPECIAL FUND IN THE STATE TREASURY TO BE KNOWN AS THE "MISSISSIPPI WINDSTORM UNDERWRITING ASSOCIATION REINSURANCE ASSISTANCE FUND"; TO PROVIDE THAT MONIES IN THE SPECIAL FUND MAY BE USED BY THE DEPARTMENT OF INSURANCE, UPON APPROPRIATION BY THE LEGISLATURE, FOR THE PURPOSE OF ASSISTING THE MISSISSIPPI WINDSTORM UNDERWRITING ASSOCIATION IN DEFRAYING EXPENSES AND COSTS FOR REINSURANCE; TO PROVIDE THAT THE MISSISSIPPI WINDSTORM UNDERWRITING ASSOCIATION MAY USE SUCH FUNDS FOR THE PURPOSE OF DEFRAYING EXPENSES AND COSTS FOR REINSURANCE; TO PROVIDE THAT ANY MONIES IN EXCESS OF $50,000,000.00 REMAINING IN THE SPECIAL FUND AT THE END OF A FISCAL YEAR THAT HAVE NOT BEEN APPROPRIATED WILL LAPSE INTO THE STATE GENERAL FUND; TO REQUIRE THE COMMISSIONER OF INSURANCE TO FILE A REPORT WITH THE JOINT LEGISLATIVE BUDGET COMMITTEE NOT LATER THAN SEPTEMBER 1 OF EACH YEAR, RECOMMENDING THE AMOUNT OF ASSISTANCE, IF ANY, NEEDED BY THE MISSISSIPPI WINDSTORM UNDERWRITING ASSOCIATION FOR REINSURANCE EXPENSES AND COSTS; TO AMEND SECTION 75-76-129, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT A PORTION OF THE STATE'S SHARE OF GAMING LICENSE FEES SHALL BE DEPOSITED INTO THE MISSISSIPPI WINDSTORM UNDERWRITING ASSOCIATION REINSURANCE ASSISTANCE FUND; AND FOR RELATED PURPOSES.
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2007/html/History/HB/HB0298.htm