00                      CS FOR HOUSE BILL NO. 374(L&C)                                                                    
01 "An Act relating to funding for a reinsurance program; relating to an application for a                                 
02 waiver for state innovation for health care insurance; and providing for an effective                                   
03 date."                                                                                                                  
04 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
05    * Section 1. AS 21.55 is amended by adding a new section to read:                                                  
06            Sec. 21.55.430.  Funding for a reinsurance program.  If the amount of                                      
07       revenue collected under AS 21.09.210 in the preceding fiscal year exceeds the                                     
08       operating expenses of the division of insurance for the preceding fiscal year, the                                
09       legislature may appropriate the excess revenue to the division of insurance to be used                            
10       to fund the reinsurance program under this chapter.                                                               
11    * Sec. 2. AS 21.96 is amended by adding a new section to read:                                                     
12            Sec. 21.96.120. Waiver for state innovation. The director may apply to the                                 
13       United States Secretary of Health and Human Services under 42 U.S.C. 18052 for a                                  
14       waiver of applicable provisions of P.L. 111-148 (Patient Protection and Affordable                                

01       Care Act) with respect to health insurance coverage in the state for a plan year                                  
02       beginning on or after January 1, 2017. The director may implement a state plan                                    
03       meeting the waiver requirements in a manner consistent with state and federal law and                             
04       as approved by the United States Secretary of Health and Human Services.                                        
05    * Sec. 3. This Act takes effect immediately under AS 01.10.070(c).