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Senate approves insurance department budget and merges securities division into the department
Summary
House Bill 10‑10 passed the Senate unanimously, authorizing the transfer of the securities division into the Insurance Department, adding staff and fee changes to fund oversight, and increasing certain staff salary allocations; final passage was 47‑0.
MADAM PRESIDENT — The Senate gave final passage to House Bill 10‑10, the appropriation bill for the Insurance Department, which incorporates the securities division into the department and includes fee adjustments to support regulatory work.
Senator Keith Sickler, carrying the measure, reminded senators that the Insurance Department is 100% fee funded and that the securities division — with 10 FTEs — was moving into the insurance budget following legislation to merge the two entities. The bill adds one attorney FTE and targeted salary equity funding for staff attorneys and fire marshal personnel, a onetime overtime appropriation for the fire marshal, and a one‑time accrual payment for paid leave.
The bill also changes securities registration fees; the committee estimated the adjustment would raise nearly $3.9 million in general fund revenue. The Appropriations Committee recommended the amendments unanimously.
On final passage the Senate recorded 47 ayes, 0 nays; the bill was passed.
