Download This Bill in Microsoft Word format
Indicates Matter Stricken
Indicates New Matter
Sponsors: Senator Gambrell
Document Path: l:\council\bills\nbd\11064cz19.docx
Companion/Similar bill(s): 4660
Introduced in the Senate on January 8, 2019
Currently residing in the Senate Committee on Banking and Insurance
Summary: Insurance fraud division of the AG
HISTORY OF LEGISLATIVE ACTIONS
Date Body Action Description with journal page number ------------------------------------------------------------------------------- 12/12/2018 Senate Prefiled 12/12/2018 Senate Referred to Committee on Banking and Insurance 1/8/2019 Senate Introduced and read first time (Senate Journal-page 142) 1/8/2019 Senate Referred to Committee on Banking and Insurance (Senate Journal-page 142)
View the latest legislative information at the website
VERSIONS OF THIS BILL
TO AMEND SECTION 38-55-560, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE INSURANCE FRAUD DIVISION OF THE OFFICE OF ATTORNEY GENERAL, SO AS TO INCREASE THE MINIMUM FUNDING APPROPRIATIONS FOR THE DIVISION FROM TWO HUNDRED THOUSAND DOLLARS TO FOUR HUNDRED THOUSAND DOLLARS.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 38-55-560(D) of the 1976 Code is amended to read:
"(D) The Insurance Fraud Division of the Office of Attorney General and the investigative services of the State Law Enforcement Division as provided by this section must be funded by an appropriation of not less than
two four hundred thousand dollars annually from the general revenues of the State derived from the insurance premium taxes collected by the Department of Insurance and/or from fines assessed under Sections 38-55-170 and 38-55-540 which must be deposited in the general revenue fund to the credit of the Office of the Attorney General and the State Law Enforcement Division to offset the costs of this program; provided, that the funds generated from these fines, to be utilized by either the Office of the Attorney General or the State Law Enforcement Division shall may not total more than five hundred thousand dollars. These monies must be shared equally on a fifty-fifty basis by the Office of the Attorney General and the State Law Enforcement Division, and the balance must go to the general fund of the State."
SECTION 2. This act takes effect upon approval by the Governor.
This web page was last updated on November 21, 2019 at 12:58 PM