HB 18 DE

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Became Law

Section 1 of this Act allows the Department of Insurance to retain a portion of the licensing fees for insurance professionals in the Regulatory Revolving Fund. Section 1 of this bill also increases the maximum unencumbered balance that the Commissioner shall maintain in the Insurance Commissioner Regulatory Revolving Fund to $5,000,000. The previous balance was set by the General Assembly in 2005. Finally, Section 1 of this Act requires that any unencumbered balance in the Regulatory Revolving Fund in excess of $5,000,000 at the end of each fiscal year be transferred to the General Fund. Section 2 of this Act increases the licensing fees for insurance professionals by $25 and makes certain technical corrections. Sections 3 and 4 of this Act centralize licensing fees within one statutory provision (§ 701). These changes are necessary to reflect the growth of the Department operating budget and to cover further operating expenses realized as a result of additional statutory duties executed by the Insurance Department. The retention of these funds will ensure that the Department continues providing high-level services to the consumers of Delaware, maintains necessary staffing to satisfy NAIC accreditation standards, and avoids federal preemption.

• Kimberly Williams Democratic · primary
• Trey Paradee Democratic · primary
• William Bush Democratic · primary
• Melanie Ross Levin Democratic · primary
• Madinah Wilson-Anton Democratic · primary
• Spiros Mantzavinos Democratic · primary

1. Jan 30, 2025 Introduced and Assigned to Economic Development/Banking/Insurance & Commerce Committee in House · lower
2. Mar 18, 2025 Reported Out of Committee (Economic Development/Banking/Insurance & Commerce) in House with 8 On Its Merits · lower
3. Mar 25, 2025 Passed By House. Votes: 39 YES 2 ABSENT · lower
4. Mar 25, 2025 Assigned to Banking, Business, Insurance & Technology Committee in Senate · upper
5. Apr 9, 2025 Reported Out of Committee (Banking, Business, Insurance & Technology) in Senate with 6 On Its Merits · upper
6. May 6, 2025 Passed By Senate. Votes: 20 YES 1 ABSENT · upper
7. May 7, 2025 Signed by Governor · executive