Statutory Cite: General Appropriations Act, Chapter 133 of the Acts of 2016, (line item 7006-0020) http://www.malegislature.gov/Laws/SessionLaws/Acts/2016/Chapter 133 FY16
Anticipated Billing Date: December 2016
FY17 Amount: $16,635,887.94
Purpose: 100 percent of the amount appropriated to the Division of Insurance in the General Appropriations Act of 2016 plus associated fringe benefit costs shall be assessed upon the institutions that the Division currently regulates except for licensed business entity producers.
Basis: This assessment is against entities regulated by the Division of Insurance, whether or not they reported direct written premium in the previous year. The assessment is a flat dollar calculation and not a proportional calculation based on premium.