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Housekeeping bill updates auditor and insurance rules, sponsor says net revenue gain
Summary
Representative Ed Buttry and the state auditor’s office presented House Bill 60 as a routine cleanup that updates securities and insurance statutes, extends a 340B pharmacy reporting sunset and allows Montana-domiciled surplus-lines insurers to be taxed, producing a net positive fiscal note, proponents told the Senate Business and Labor Committee.
Representative Ed Buttry, sponsor of House Bill 60, told the Senate Business and Labor Committee the measure is a housekeeping bill requested by the state auditor and commissioner of securities and insurance that revises definitions, filing requirements, producer training, surplus lines insurance rules and consumer protections.
"House Bill 60 is a bill brought to the committee at the request of the state auditor," Buttry said, noting the bill also "establishes a 1 year statute of limitations for security related actions upon discovery of a violation" and clarifies eligibility for the…
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