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Committee hears bill to move administration of state bonding fund to OMB
Summary
Representative Emily O'Brien introduced House Bill 1026 to transfer administration of the State Bonding Fund from the Insurance Commissioner to the Office of Management and Budget; Insurance Department staff supported the change while OMB and NDIRF testified neutrally, citing staffing, IT and contract continuity concerns.
Representative Emily O’Brien, R‑Grand Forks, told the Industry, Business and Labor Committee that House Bill 1026 would change administration of the State Bonding Fund from the Insurance Commissioner to the Office of Management and Budget and update archaic statutory language to provide contracting authority if current administrative contracts end.
Deputy Commissioner Arnold (Insurance Department) testified in support and said similar…
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