Supplement: AL HB39 | 2022 | Regular Session | HB39 for Banking and Insurance
For additional supplements on Alabama HB39 please see the Bill Drafting List
Bill Title: Insurance Department, transfer of certain funds from Insurance Dept. Fund to Strengthen Alabama Homes Fund by Commissioner of Insurance, authorized
Status: 2022-03-10 - Delivered to Governor at 9:30 a.m. on March 10, 2022. [HB39 Detail]
Download: Alabama-2022-HB39-HB39_for_Banking_and_Insurance.html
Bill Title: Insurance Department, transfer of certain funds from Insurance Dept. Fund to Strengthen Alabama Homes Fund by Commissioner of Insurance, authorized
Status: 2022-03-10 - Delivered to Governor at 9:30 a.m. on March 10, 2022. [HB39 Detail]
Download: Alabama-2022-HB39-HB39_for_Banking_and_Insurance.html
| Committee: Banking and Insurance | Sponsor: Brown (C) |
| Analyst: JT Mathis | Date: 02/18/2022 |
FISCAL NOTE
House Bill 39 as passed the House of Representatives requires the transfer of any amount remaining in the Insurance Department Fund on September 30, 2022, which exceeds 25% of the amount appropriated from the Insurance Department Fund for the fiscal year ending September 30, 2022 to the Strengthen Alabama Homes Fund. The bill also authorizes the Commissioner to transfer up to 50% of the amount appropriated to the Insurance Department Fund each fiscal year to the Strengthen Alabama Homes Fund.
The following unencumbered and unexpended balances over 25% of the amount appropriated for the following fiscal year have been transferred to the State General Fund from the Insurance Department Fund:
| 2021 | $2,762,879.85 |
| 2020 | $3,133,541.97 |
| 2019 | $5,237,746.54 |
| 2018 | $3,573,368.19 |
| 2017 | $7,933,013.92 |
| 2016 | $4,182,621.29 |
| 2015 | $2,701,521.05 |
| Shay Shelnutt, Chairperson Banking and Insurance |
