Plain English Breakdown
The exact nature of the changes to section 13 and their implications are unclear without reviewing the full text of the bill.
Changing How Insurance Money is Spent
This law modifies how revenue from an assessment on insurance providers is allocated.
What This Bill Does
- Modifies section 13 of the Insurance Provider Assessment Act (2018 PA 175) to change the allocation of revenue collected under this act.
Who It Names or Affects
- Insurance companies and state agencies managing insurance-related funds.
Terms To Know
- Assessment
- A charge or fee imposed on insurance providers to fund certain programs or activities.
- Revenue
- Money received from various sources, such as fees and charges.
Limits and Unknowns
- The exact details of how the revenue will be reallocated are not specified in this summary.
- It's unclear what specific changes to section 13 of 2018 PA 175 will be made without seeing the full text.