SENATE BILL NO. 707


   September 21, 1999, Introduced by Senator STILLE and referred to 
        the Committee on Financial Services.



        A bill to amend 1956 PA 218, entitled

   "The insurance code of 1956,"

   (MCL 500.100 to 500.8302) by adding section 452.

               THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

 1         SEC. 452.  (1) AS A CONDITION OF ITS AUTHORITY TO TRANSACT

 2    INSURANCE IN THIS STATE, AN INSURER SHALL PAY BY APRIL 1 OF EACH

 3    YEAR THE FOLLOWING:

 4         (A) AN ASSESSMENT OF .2% OF ITS DIRECT EARNED PREMIUM WRIT-

 5    TEN ON HOMEOWNERS MULTIPLE PERIL INSURANCE FOR A RISK RESIDENT OR

 6    LOCATED WITHIN THIS STATE FOR THE PRIOR CALENDAR YEAR.

 7         (B) AN ASSESSMENT OF .15% OF ITS DIRECT EARNED PREMIUM WRIT-

 8    TEN ON FIRE INSURANCE OTHER THAN HOMEOWNERS MULTIPLE PERIL INSUR-

 9    ANCE FOR A RISK RESIDENT OR LOCATED WITHIN THIS STATE FOR THE

10    PRIOR CALENDAR YEAR.




   03578'99                                                 DKH
           
                                   2

 1         (2) AN ASSESSMENT UNDER THIS SECTION SHALL BE DEPOSITED INTO

 2    THE FIRE FIGHTERS TRAINING FUND CREATED IN SECTION 13 OF THE FIRE

 3    FIGHTERS TRAINING COUNCIL ACT OF 1966, 1966 PA 291, MCL 29.373.

 4         Enacting section 1.  This amendatory act does not take

 5    effect unless Senate Bill No. 681

 6                           of the 90th Legislature is enacted into

 7    law.










































   03578'99          Final page.                            DKH