Revision: March 30, 2017, 8:41 a.m.
HB 330-FN - AS AMENDED BY THE HOUSE
8Mar2017... 0133h
2017 SESSION
17-0593
01/04
HOUSE BILL 330-FN
AN ACT relative to form and rate filing fees.
SPONSORS: Rep. Butler, Carr. 7; Sen. Reagan, Dist 17; Sen. Fuller Clark, Dist 21
COMMITTEE: Commerce and Consumer Affairs
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This bill establishes form and rate filing fees for advisory organizations.
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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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
8Mar2017... 0133h 17-0593
01/04
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Seventeen
AN ACT relative to form and rate filing fees.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 New Subparagraphs; Insurance Department; Form and Rate Filing Fees; Advisory Organizations and Statistical Agents. Amend RSA 400-A:29, VI by inserting after subparagraph (c) the following new subparagraphs:
(d) Form filing- each form filing: $20
(e) Rate filing- each rate filing: $20
2 Property and Casualty 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.
17-0593
Amended 3/21/17
HB 330-FN- FISCAL NOTE
AS AMENDED BY THE HOUSE (AMENDMENT #2017-0133h)
AN ACT relative to form and rate filing fees.
FISCAL IMPACT: [ X ] State [ ] County [ ] Local [ ] None
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| Estimated Increase / (Decrease) | ||||
STATE: | FY 2018 | FY 2019 | FY 2020 | FY 2021 | |
Appropriation | $0 | $0 | $0 | $0 | |
Revenue | Indeterminable Decrease | Indeterminable Decrease | Indeterminable Decrease | Indeterminable Decrease | |
Expenditures | $0 | $0 | $0 | $0 | |
Funding Source: | [ X ] General [ ] Education [ ] Highway [ ] Other | ||||
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METHODOLOGY:
As amended, this bill establishes two fees paid by advisory organizations and statistical agents:
The Department of Insurance currently has the authority to charge retaliatory fees for the filings of advisory organizations. By switching to the flat fee, the Department of Insurance estimates state general fund revenue will decrease by an amount equal to the difference between current per form / retaliatory fee income and the revised per filing based income. The Department annually receives approximately 650 forms from advisory organizations and approximately 200 are submitted with an average $100 fee per form. The remaining 450 forms arrive without a payment therfore the prior average revenue was about $20,000. As amended, the bill changes the fee from "per form" to "per filing" regardless of the number of forms. The State receives approximately 108 advisory organization filings per year which would result in $2,160 of revenue. Consequently, the Department estimates the bill would decrease state general fund revenue by $17,840 ($2,160 minus $20,000).
AGENCIES CONTACTED:
Department of Insurance