House Bill 350

Actions | Amendments
Last Action 04/08/22: signed by Governor (Acts Ch. 133)
Title AN ACT relating to insurance regulatory requirements.
Bill Documents Acts Chapter 133
Current/Final
Introduced
Bill Request Number 1465
Sponsor J. Gooch Jr.
Summary of Original Version Amend KRS 304.2-205 and KRS 304.3-240 to require electronic filings; amend KRS 304.2-230 to add analysts to insurance examination provisions; amend KRS 304.5-140 to provide additional authority for the insurance commissioner relating to the assuming insurer list; amend KRS 304.6-134 to remove requirement that a domestic company report total adjusted capital of at least 450% of authorized control level risk-based capital in order to qualify for an exemption from NAIC valuation manual standards; amend KRS 304.17A-300 to terminate the issuance of certificates of filing for provider-sponsored integrated health delivery networks; amend KRS 304.37-010 to modify definition of "commissioner" and add definition for "NAIC"; amend KRS 304.37-020 to add definitions; require certain insurance holding company systems to file an annual group capital calculation with a lead state insurance commissioner; require certain insurance holding company systems scoped into the NAIC Liquidity Stress Test Framework to file liquidity stress test results with a lead state insurance commissioner; amend KRS 304.37-050 to modify confidentiality provisions relating to documents, materials, or other information in the possession of the insurance commissioner; add confidentiality provisions for group capital calculations and liquidity stress test results; make technical amendments throughout.
Index Headings of Original Version Insurance - Insurance companies, NAIC valuation manual standards, exemptions
Insurance - Insurance filings, electronic submission
Insurance - Insurance holding company systems, filing requirements
Insurance, Health - Provider-sponsored integrated health delivery networks, termination of new licenses
International Trade and Relations - International insurance holding company systems, filing requirements
Interstate Cooperation - Lead state insurance commissioner, insurance holding company systems, interstate regulation
State Agencies - Department of Insurance, credit for reinsurance, regulatory authority
State Agencies - Department of Insurance, examination authority
Technical Corrections - Insurance regulatory statutes, technical corrections
Administrative Regulations and Proceedings - Lead state insurance commissioner, insurance holding company systems, filing requirements
Reports Mandated - Insurance holding company systems, filing requirements
Jump to Proposed Amendments Senate Committee Substitute 1
Votes Vote History

Actions

Top | Amendments
01/24/22
  • introduced in House
  • to Committee on Committees (H)
01/25/22
  • to Banking & Insurance (H)
02/23/22
  • reported favorably, 1st reading, to Calendar
02/24/22
  • 2nd reading, to Rules
  • posted for passage in the Regular Orders of the Day for Friday, February 25, 2022
03/02/22
  • 3rd reading, passed 98-0
03/03/22
  • received in Senate
  • to Committee on Committees (S)
03/10/22
  • to Banking & Insurance (S)
03/22/22
  • reported favorably, 1st reading, to Consent Calendar with Committee Substitute (1)
03/23/22
  • 2nd reading, to Rules as a consent bill
03/24/22
  • posted for passage in the Consent Orders of the Day for Friday, March 25, 2022
03/25/22
  • 3rd reading, passed 34-0 with Committee Substitute (1)
  • received in House
  • to Rules (H)
03/29/22
  • posted for passage for concurrence in Senate Committee Substitute (1)
  • House concurred in Senate Committee Substitute (1)
  • passed 93-0
03/30/22
  • enrolled, signed by Speaker of the House
  • enrolled, signed by President of the Senate
  • delivered to Governor
04/08/22
  • signed by Governor (Acts Ch. 133)

Proposed Amendments

Top | Actions
Amendment Senate Committee Substitute 1
Summary Retain original provisions; amend KRS 304.38-070 to establish regulatory requirements for health maintenance organizations that solely operate as a Medicare Advantage organization under federal law; create a new section of Subtitle 38 of KRS Chapter 304 to establish requirements for provider-sponsored integrated health networks to convert to health maintenance organizations that solely operate as a Medicare Advantage organization under federal law; amend KRS 304.38-200 to conform; make technical changes.
Index Headings Federal Laws and Regulations - Health maintenance organizations, operation as an MA organization under federal law
Insurance - Insurance companies, NAIC valuation manual standards, exemptions
Insurance - Insurance filings, electronic submission
Insurance - Insurance holding company systems, filing requirements
Insurance, Health - Health maintenance organizations, operation as an MA organization, regulatory requirements
Insurance, Health - Provider-sponsored integrated health delivery networks, conversion rights
Insurance, Health - Provider-sponsored integrated health delivery networks, termination of new licenses
International Trade and Relations - International insurance holding company systems, filing requirements
Interstate Cooperation - Lead state insurance commissioner, insurance holding company systems, interstate regulation
State Agencies - Department of Insurance, credit for reinsurance, regulatory authority
State Agencies - Department of Insurance, examination authority
Technical Corrections - Insurance regulatory statutes, technical corrections
Administrative Regulations and Proceedings - Department of Insurance, insurance holding company systems, filing requirements
Reports Mandated - Insurance holding company systems, filing requirements

Last updated: 5/25/2022 2:58 PM (EDT)
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