SENATE BILL No. 100

February 6, 2001, 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.

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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. 99

6 of the 91st Legislature is enacted into

7 law.

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