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DIFS budget overview highlights fee-funded structure; committee flagged large licensed-agent roll
Summary
The subcommittee received a high-level presentation of the Department of Insurance and Financial Services (DIFS) fiscal 2025 budget, including one-time studies and the observation that the state's licensed-agent registry contains many long-standing licenses that inflate apparent counts.
Una Yakupovich, the House fiscal analyst for Insurance and Financial Services, presented the fiscal 2025 budget for the Department of Insurance and Financial Services (DIFS) and explained the department's funding structure and recent one-time appropriations.
Yakupovich said DIFS has about $78.6 million in gross appropriations for the fiscal year, of which roughly $77.2 million is state-restricted revenue derived primarily from license and regulatory fees. She said DIFS receives virtually no general-fund support in 2025 and that roughly 87% of the department's budget…
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