Bill Summary for S 332 (2023-2024)

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Summary date: 

Apr 25 2023

Bill Information:

View NCGA Bill Details2023-2024 Session
Senate Bill 332 (Public) Filed Monday, March 20, 2023
AN ACT TO MAKE CHANGES TO THE CURRENT OPERATIONS APPROPRIATIONS ACT OF 2023.
Intro. by Johnson, Lazzara, Hanig.

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Bill summary

Senate committee substitute to the 1st edition makes the following changes. Amends GS 58-45-41 to decrease the cap on insurance for commercial property from $5 million to $4 million. Removes proposed changes which, starting on June 1, 2024, would have provided that the monetary limits on habitational property and commercial property are removed from GS 58-45-41, and instead the maximum insurance coverage for both types of properties would have been set at a figure recommended by the North Carolina Insurance Underwriting Association and approved by the Insurance Commissioner.