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Committee hears bill to make Montana reinsurance statutory appropriation, members ask questions about fund volatility
Summary
House Bill 281 would convert the state assessment portion of the Montana Reinsurance Program into a statutory appropriation so the auditor’s office could request additional authority when federal and state reinsurance funding fluctuates.
Representative Ken Walsh opened House Bill 281 as a proposal from the state auditor’s office to change the Montana Reinsurance Program’s funding mechanism to a statutory appropriation so the auditor can request additional spending authority via the budget change document process when federal grant awards and state assessments fluctuate.
Walsh said the reinsurance program — established under a federal waiver and Montana statute after 2019 — has helped lower individual market…
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