HB371: An Act To Amend Title 18 Of The Delaware Code Relating To The State Fire Prevention Commission, Fire Companies Or Departments, And The State Insurance Coverage Office.

Legislative Summary

This Act changes how the Insurance Commissioner and the State Treasurer provide for distributions from taxes collected by the Insurance Commissioner to be made to fire companies or departments in Delaware. The current method for reporting, calculating, and making distributions to fire companies or departments is complex to administer and can lead to incorrect payments. This Act simplifies the reporting process and provides a new method for calculating the funds distributed to fire departments and companies in the City of Wilmington, New Castle County outside of Wilmington, Kent County, and Sussex County. Specifically, it reduces the number of payments per year from two to one, gives the Insurance Commissioner more time to ensure the accuracy of insurer-reported financial data, and establishes detailed guidelines for how the funds should be distributed to the various fire companies or departments. This Act also makes changes to the reporting requirements related to payments made by the State Treasurer to the State Insurance Coverage Office.