S 698

Abstract

A BILL SECTION 15-78-150(b) OF THE 1976 CODE, RELATING TO THE AUTHORITY OF THE STATE FISCAL ACCOUNTABILITY AUTHORITY TO FUND PURCHASES BY PARTICIPATING GOVERNMENTAL ENTITIES AND SET PREMIUMS ACCORDING TO RISK AND TO DEVELOP AN ACTUARIAL RATING SYSTEM PLAN, TO PROVIDE THAT THE STATE FISCAL ACCOUNTABILITY AUTHORITY SHALL RATE A POLICY ACCORDING TO THE RISK INVOLVED WITH EACH PARTICIPATING GOVERNMENTAL ENTITY BASED UPON THE NUMBER OF EMPLOYEES; THE AGGREGATE ANNUAL BUDGET OF THE ENTITY; AND ANY UNIQUE EXPOSURES, LOSS HISTORY, OR CLAIMS PENDING AGAINST THE ENTITY.