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House approves bill exempting local government insurance pools from state oversight
Summary
The House passed Second Substitute House Bill 242 (deregulation of public insurers) by 54-13, exempting interlocal self-insurance pools from standard state insurance regulation; proponents said it saved local taxpayers money and returned accountability to local officials, while opponents warned of reduced reserves and taxpayer exposure.
The Utah House on Feb. 17 approved Second Substitute House Bill 242, a measure to exempt certain local-government self-insurance pools formed by interlocal agreements from routine state insurance regulation. The recorded vote was 54 yes and 13 no; the bill was forwarded to the Senate.
Sponsor (floor identification: representative moving the substitute) described the measure as "deregulation of public insurers" that would…
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