Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Committee releases bill raising licensing fees to shore up Department of Insurance funding
Summary
The House Economic Development, Banking, Insurance, and Commerce Committee voted to release House Bill 18, which would raise new and renewal insurance licensing fees by $25 and allow the Department of Insurance to retain part of the increase to stabilize its budget.
The House Economic Development, Banking, Insurance, and Commerce Committee voted to release House Bill 18, which would raise new and renewal insurance licensing fees by $25 and allow the Delaware Department of Insurance (DOI) to keep 15 percent of the increased revenue for regulatory purposes, while 85 percent would continue to flow to the general fund.
The bill’s sponsor told the committee the DOI has faced declining revenue and rising mandated expenses, and that the department — now fully self-funded after general-fund support ended in the early 2000s — projects revenue shortfalls without the change. The…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
