HB102 Alabama 2022 Session

Updated Feb 22, 2026

Summary

Primary Sponsor: Kyle South
Republican
Session: Regular Session 2022
Title: Insurance Risk Management and Insurance Center, Insurance Dept. to establish at state university and support, fund estab., approp. for center, Sec. 27-2-39 am'd.
Summary: HB102 requires the Insurance Commissioner to create and fund a Center for Risk and Insurance Research at a state university, funded by a new Center for Risk and Insurance Research Fund and changes to how certain insurance revenues are distributed.
What This Bill Does
The bill directs the Commissioner to establish and support the Center for Risk and Insurance Research connected to a state university for research, education, and outreach on risk management and insurance. It creates a dedicated fund in the State Treasury to fund the center and allows the Commissioner to transfer up to the appropriated amount each year to the university for its operation. It amends how certain fees, licenses, and taxes collected by the Insurance Department are deposited and distributed, including a provision that at least $1.5 million per year goes to the Center for Risk and Insurance Research Fund, and it sets rules for carryover and budgeted expenditures.

Who It Affects
The Center for Risk and Insurance Research at the state university — will receive annual funding and operational support from the Insurance Department to conduct research, education, and outreach on risk management and insurance.
The Alabama Insurance Department (and state budgeting) — funding structure changes will direct portions of collected fees, licenses, and taxes to the new Center for Risk and Insurance Research Fund, with specific annual allocations and carryover rules affecting how money is spent and carried over between fiscal years.

Key Provisions
The Commissioner of Insurance shall establish and support the Center for Risk and Insurance Research connected with a state university to conduct research, education, and outreach on risk management and insurance issues.
There is created a Center for Risk and Insurance Research Fund in the State Treasury to fund the center; funds are to be used as appropriated and may be transferred to the university for operation.
Section 27-2-39 is amended to create an Insurance Department Fund for the department’s operation, with detailed rules on how receipts are deposited and disbursed, budget controls, and a carryover provision allowing up to 25% of the annual appropriation to roll over to the next year.
A portion of certain fees, licenses, and taxes collected by the Commissioner is to be credited to the Center for Risk and Insurance Research Fund (explicitly including an annual $1,500,000 transfer to the center), with remaining funds distributed to the General Fund or Insurance Department Fund according to the act.

AI-generated summary using openai/gpt-5-nano on Feb 22, 2026. May contain errors — refer to the official bill text for accuracy.
Subjects: Insurance Department