Summary of the Introduced Bill

HB 1231 -- Department of Insurance Dedicated Fund

Sponsor:  Ervin

Under current law, all moneys received from fees by the
Department of Insurance are deposited into the Department of
Insurance Dedicated Fund and are used to cover operating
expenses.  Money left over each year does not lapse into general
revenue unless, and only to the extent to which, the unencumbered
balance at the close of the biennium year exceeds two times the
total amount transferred into the fund during the last fiscal
year.  This bill changes the formula from two times to 10% of the
amount of money transferred into the fund.

Copyright (c) Missouri House of Representatives

Missouri House of Representatives
92nd General Assembly, 2nd Regular Session
Last Updated September 23, 2004 at 11:15 am