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Senate reallocates surplus-lines fee to boost fire truck funding, caps wind-pool diversion
Summary
The Mississippi Senate voted to adopt a conference report that changes how the state distributes revenue from the surplus‑lines (non‑admitted) insurance policy fee, directing a larger share to rural, municipal and volunteer county fire funds and setting a $12 million cap on payments to the Windstorm Underwriters Association.
The Mississippi Senate voted to adopt a conference report that changes how the state distributes revenue from the non‑admitted (surplus lines) insurance policy fee, directing a larger portion to fire service funding and setting a fixed cap for the windstorm pool.
Senator Parker, explaining the measure on the floor, said the bill reallocates the non‑admitted premium fee so that, beginning July 1, 2025, 40% of the funds not diverted to first‑responder and windstorm accounts will go to the Rural Fire Truck Fund (RIFTAP), 30% to the Municipal Fire Protection Fund and 30% to the Volunteer County Fire Department Fund. Parker said the change should produce about $4 million a year more for RIFTAP and allow funds to be used for…
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