Bill Summary for S 556

Summary date: 

May 15 2013

Bill Information:

View NCGA Bill Details2013-2014 Session
Senate Bill 556 (Public) Filed Thursday, March 28, 2013
A BILL TO BE ENTITLED AN ACT TO WIND UP THE NORTH CAROLINA HEALTH INSURANCE RISK POOL.
Intro. by Hise.

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Bill summary

Senate committee substitute makes the following changes to the 1st edition.

Amends GS 58-50-260(d)(9), making a technical change.

Provides that $1 million is to be appropriated from the General fund to the NC Health Insurance Risk Pool Fund (was to be transferred from the Insurance Regulatory Fund) to be used for the purposes set out in GS 58-50-225 and for the winding up of the NC Health Insurance Risk Pool.

Amends GS 58-50-225(c), providing that the final surcharge will be paid to the Pool Fund for the 2013-14 state fiscal year in quarterly installments instead of one annual payment.  The installments will be paid to the Pool Fund 60 days after the close of each quarter and will be due on December 1, 2013; March 1, 2014; June 1, 2014; and September 1, 2014. Excess funds following the final dissolution of the Pool  will be transferred to the General Fund.

Makes a clarifying change.

Repeals GS 58-3-276, Notice relating to the North Carolina Health Insurance Risk Pool.

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