HB 489

Abstract

Insurance; Fire Programs Fund; purposes. Provides that the portion of the Fire Programs Fund allocated to localities may be used for the additional purposes of (i) constructing, improving, or expanding fire station facilities, (ii) providing mental health resources, or (iii) hiring additional fire personnel and funding recruitment and retention programs. The bill also prohibits such funds from being used, except as provided, for the purposes of investments, operating expenses, debt repayment, taxes, or fees.

Insurance; Fire Programs Fund; assessment andpurposes. Increases the annual assessment used to fund the FirePrograms Fund on licensed insurance companies that write certaintypes of insurance (fire, miscellaneous property and casualty, marine,homeowners, and farmowners) from one percent of the total direct gross premium income for such insurance to 1.25 percent in fiscal year2025, 1.5 percent in fiscal year 2026, 1.75 percent in fiscal year 2027, and two percent in fiscal year 2028 and thereafter. The billalso provides that the portion of the Fire Programs Fund allocatedto localities may be used for the additional purposes of (i) constructing,improving, or expanding fire station facilities or (ii) hiring additionalfire personnel and funding recruitment and retention programs. Thebill also prohibits such funds from being used, except as provided,for the purposes of investments, operating expenses, debt repayment,taxes, or fees.