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Senate committee hears SB 60 on captive insurance fiscal note; proponents from state auditor and industry back bill
Summary
Sen. Mark Noland introduced SB 60 on captive insurance; representatives from the state auditor's office and the Montana Captive Insurance Association provided fiscal-note oversight and support; committee received a printed fiscal note after a brief pause and then advanced the bill in executive action later in the session.
Senator Mark Noland opened Senate Bill 60, a re-referral that focuses on fiscal implications for captive insurance. The state auditor’s office and the deputy insurance commissioner (Frank Cote) were present to explain the fiscal note and answer questions. Amy Grama (representing the Montana Captive Insurance Association) testified in support and offered to help with technical questions or backup for the fiscal note.
Committee members initially lacked printed copies of the fiscal note; staff provided a printed fiscal note after a brief pause and the hearing resumed. Questions from senators centered on whether the sponsor had signed the fiscal note and on timing; Senator Noland said he had not seen it in time but would have signed if he had. Noland closed by asking members to support the bill and noting the State Auditor's Office requested it.
What happens next: The transcript shows the committee later took executive action and recorded that SB 60 passed Senate Finance and Claims as amended/considered in committee.
