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House Bill 554

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Legislative History
Last Action	04/04/24: signed by Governor (Acts Ch. 50)
Title	AN ACT relating to insurance coverage of state property.
Bill Documents	Acts Chapter 50 Current/Final Introduced
Bill Request Number	1276
Sponsor	M. Meredith
Summary of Enacted Version	Creates a new section of KRS 164A.555 to 164A.630 to permit governing boards of public-supported postsecondary educational institutions to elect to terminate the institution’s coverage through the state fire and tornado insurance fund and obtain coverage from an authorized insurer or through a self-insurance pool, to establish requirements for terminating and resuming coverage through the state fire and tornado insurance fund, to require that institutions that obtain coverage under the section have an annual inspection of each state building and its contents, and to establish requirements for insurance obtained by an institution from an authorized insurer or a self-insurance pool; and amends KRS 164A.575 to conform.
Summary of Original Version	Create a new section of KRS 164A.555 to 164A.630 to permit governing boards of public supported postsecondary educational institutions to elect to terminate the institution's coverage through the state fire and tornado insurance fund and obtain the coverage from an authorized insurer or through a self-insurance pool; establish requirements for terminating and resuming coverage through the state fire and tornado insurance fund; establish requirements for insurance obtained by an institution from an authorized insurer or a self-insurance pool; amend KRS 164A.575 to conform.
Index Headings of Original Version	Education, Higher - State property, public supported postsecondary educational institution, insurance coverage Insurance - State property, public supported postsecondary educational institution Property - State property, public supported postsecondary educational institution, insurance coverage State Agencies - Finance and Administration Cabinet, state fire and tornado insurance fund, coverage
Jump to Proposed Amendments	Senate Committee Substitute 1
Votes	Vote History

Actions

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02/14/24	introduced in House to Committee on Committees (H)
02/16/24	to Banking & Insurance (H)
02/21/24	reported favorably, 1st reading, to Calendar
02/22/24	2nd reading, to Rules posted for passage in the Regular Orders of the Day for Friday, February 23, 2024
02/27/24	3rd reading, passed 96-0
02/28/24	received in Senate to Committee on Committees (S)
03/08/24	to Banking & Insurance (S)
03/21/24	reported favorably, 1st reading, to Consent Calendar with Committee Substitute (1)
03/22/24	2nd reading, to Rules as a consent bill
03/25/24	posted for passage in the Consent Orders of the Day for Tuesday, March 26, 2024
03/26/24	3rd reading, passed 38-0 with Committee Substitute (1) received in House to Rules (H)
03/27/24	posted for passage for concurrence in Senate Committee Substitute (1) House concurred in Senate Committee Substitute (1) passed 92-0 enrolled, signed by Speaker of the House
03/28/24	enrolled, signed by President of the Senate delivered to Governor
04/04/24	signed by Governor (Acts Ch. 50)

Proposed Amendments

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Amendment	Senate Committee Substitute 1
Summary	Retain original provisions, except require institutions to have an annual inspection, pay a fee for the inspection, and provide notices prior to resuming coverage under the state fire and tornado insurance fund.
Index Headings	Education, Higher - State property, public supported postsecondary educational institution, insurance coverage Insurance - State property, public supported postsecondary educational institution Property - State property, public supported postsecondary educational institution, insurance coverage State Agencies - Finance and Administration Cabinet, state fire and tornado insurance fund, annual inspections State Agencies - Finance and Administration Cabinet, state fire and tornado insurance fund, coverage

Last updated: 9/26/2024 1:37 PM (EDT)