HB 1232-FN – AS AMENDED BY THE HOUSE
26Mar2014… 1030h
2014 SESSION
01/06
HOUSE BILL 1232-FN
AN ACT relative to insurance filing fees.
SPONSORS: Rep. Butler, Carr 7; Rep. John Hunt, Ches 11
COMMITTEE: Commerce and Consumer Affairs
This bill adds fees for form and rate filings by advisory organizations.
This bill is a request of the insurance department.
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Explanation: Matter added to current law appears in bold italics.
Matter removed from current law appears [in brackets and struckthrough.]
Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
26Mar2014… 1030h
14-2203
01/06
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Fourteen
AN ACT relative to insurance filing fees.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 New Subparagraphs; Insurance; Filing Fees. Amend RSA 400-A:29 by inserting after subparagraph VI.(c) the following new subparagraphs:
(d) Form filing - per form $100 up to a maximum of $2,500
(e) Rate filing - per rate filing $100
2 Insurance; Advisory Organizations; Filing Requirements. Amend RSA 412:25 to read as follows:
412:25 Advisory Organizations; Filing Requirements. Every advisory organization shall file with the commissioner before the effective date every statistical plan, all prospective loss costs, provisions for special assessments and all supplementary rating information and every change or amendment or modification of any of the foregoing proposed for use in this state. Such filings shall be subject to the provisions of RSA 400-A:29, VI(d) and (e), RSA 412:16 and RSA 412:19 and other provisions of this chapter relating to filings made by insurers.
3 Effective Date. This act shall take effect 60 days after its passage.
LBAO
14-2203
Amended 04/04/14
HB 1232-FN FISCAL NOTE
AN ACT relative to insurance filing fees.
FISCAL IMPACT:
The Insurance Department states this bill, as amended by the House (Amendment #2014-1030h), will increase state general fund revenue by $25,000 in FY 2015 and each year thereafter. There is no fiscal impact on state expenditures, or county and local revenue and expenditures.
METHODOLOGY:
The Insurance Department states this bill adds fees for forms and rate filings by advisory organizations. The Department states it has the authority to charge retaliatory fees for the filings of advisory organizations. The Department states it receives approximately 650 filings, of which 200 include a fee of $100. The remaining 450 forms arrive without a payment, with approximately 200 of these forms that would be processed without a fee due to the fee cap of $2,500. As a result, this bill will increase general fund revenue by $25,000 (250 forms *$100).