This bill would require the Commissioner of Insurance to establish the Center for Risk and Insurance Research connected with a state university to carry out research, education, and outreach regarding risk management and insurance issues.
Under existing law, the Commissioner of Insurance collects certain fees and miscellaneous charges for various purposes.
This bill would credit five percent of various fees, licenses, and taxes collected by the Commissioner of Insurance to a new fund to be known as the Center for Risk and Insurance Research Fund to be used to fund the center.
This bill would also make technical changes to the Insurance Department Fund to conform with existing law.
Delivered to Governor at 9:30 a.m. on March 10, 2022.
Assigned Act No. 2022-148.
Clerk of the House Certification
Signature Requested
Enrolled
Passed Second House
Motion to Read a Third Time and Pass adopted Roll Call 519
Third Reading Passed
Read for the second time and placed on the calendar
Read for the first time and referred to the Senate committee on Finance and Taxation General Fund
Engrossed
Motion to Read a Third Time and Pass adopted Roll Call 188
Motion to Adopt adopted Roll Call 187
South Amendment Offered
Third Reading Passed
Read for the second time and placed on the calendar
Read for the first time and referred to the House of Representatives committee on Insurance
Source: Alabama Legislature