Bill Text: NH HB330 | 2017 | Regular Session | Introduced
Bill Title: Relative to form and rate filing fees.
Spectrum: Slight Partisan Bill (Democrat 2-1)
Status: (Passed) 2017-06-19 - Signed by Governor Sununu 06/16/2017; Chapter 133; Eff. 8/15/2017 [HB330 Detail]
Download: New_Hampshire-2017-HB330-Introduced.html
HB 330-FN - AS INTRODUCED
2017 SESSION
17-0593
01/04
HOUSE BILL 330-FN
AN ACT relative to form and rate filing fees.
SPONSORS: Rep. Butler, Carr. 7; Sen. Reagan, Dist 17; Sen. Fuller Clark, Dist 21
COMMITTEE: Commerce and Consumer Affairs
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ANALYSIS
This bill establishes form and rate filing fees for advisory organizations.
This bill is a request of the insurance department.
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Explanation: Matter added to current law appears in bold italics.
Matter removed from current law appears [in brackets and struckthrough.]
Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
17-0593
01/04
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Seventeen
AN ACT relative to form and rate filing fees.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 New Subparagraphs; Insurance Department; Form and Rate Filing Fees; Advisory Organizations and Statistical Agents. Amend RSA 400-A:29, VI by inserting after subparagraph (c) the following new subparagraphs:
(d) Form filing- each form filed: $100, up to a maximum of $2,500 each filing
(e) Rate filing- each rate filing: $100
2 Property and Casualty Insurance; Advisory Organizations; Filing Requirements. Amend RSA 412:25 to read as follows:
412:25 Advisory Organizations; Filing Requirements. Every advisory organization shall file with the commissioner before the effective date every statistical plan, all prospective loss costs, provisions for special assessments and all supplementary rating information and every change or amendment or modification of any of the foregoing proposed for use in this state. Such filings shall be subject to the provisions of RSA 400-A:29, VI(d) and (e), RSA 412:16, and RSA 412:19 and other provisions of this chapter relating to filings made by insurers.
3 Effective Date. This act shall take effect 60 days after its passage.
17-0593
12/29/16
HB 330-FN- FISCAL NOTE
as introduced
AN ACT relative to form and rate filing fees.
FISCAL IMPACT: [ X ] State [ ] County [ ] Local [ ] None
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| Estimated Increase / (Decrease) | |||
STATE: | FY 2018 | FY 2019 | FY 2020 | FY 2021 |
Appropriation | $0 | $0 | $0 | $0 |
Revenue | Indeterminable Increase | Indeterminable Increase | Indeterminable Increase | Indeterminable Increase |
Expenditures | $0 | $0 | $0 | $0 |
Funding Source: | [ X ] General [ ] Education [ ] Highway [ ] Other | |||
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METHODOLOGY:
This bill establishes two fees paid by advisory organizations and statistical agents:
- Form filing fee - $100, up to a maximum of $2,500 each filing
- Rate filing fee - $100 each rate filing
The Department of Insurance currently has the authority to charge retaliatory fees for the filings of advisory organizations. By switching to a flat fee, the Department of Insurance estimates state general fund revenue will increase because both the Department and insurance carriers will be better able to track and maintain compliance of appropriate fee payments. The Department annually receives approximately 650 forms from advisory organizations and approximately 200 are submitted with an average $100 fee per form. The remaining 450 forms arrive without a payment. Approximately 200 of these forms would be processed without a fee due to the fee cap of $2,500. Consequently, the Department estimates this bill will increase state general fund revenue by $25,000 (250 * 100 = $25,000).
AGENCIES CONTACTED:
Department of Insurance
