HB 274: "An Act establishing a surcharge on property insurance policies issued or renewed in the state; relating to the Alaska Fire Standards Council; relating to the Alaska fire services personnel fund; and providing for an effective date."
00 HOUSE BILL NO. 274 01 "An Act establishing a surcharge on property insurance policies issued or renewed in 02 the state; relating to the Alaska Fire Standards Council; relating to the Alaska fire 03 services personnel fund; and providing for an effective date." 04 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 05 * Section 1. AS 21.09.210 is amended by adding a new subsection to read: 06 (q) In addition to the taxes applicable under this section, a person who 07 purchases a property insurance policy in the state shall pay a surcharge of $3 on the 08 property insurance policy. An insurer issuing or renewing a property insurance policy 09 shall collect the surcharge required under this subsection at the time the policy is 10 issued or renewed. An insurer shall submit the surcharge collected, along with a report 11 of the number of property insurance policies for which the surcharge was collected, to 12 the director once each quarter on a date specified by the director. The surcharge is not 13 considered a premium and is not subject to the premium tax imposed under this 14 section. The legislature may appropriate money collected under this subsection to the
01 Department of Public Safety for activities of the Alaska Fire Standards Council under 02 AS 18.70.320 - 18.70.369 or for any other public purpose. 03 * Sec. 2. AS 37.05.146(c) is amended by adding a new paragraph to read: 04 (80) the surcharge collected under AS 21.09.210(q). 05 * Sec. 3. AS 18.70.360 is repealed. 06 * Sec. 4. The uncodified law of the State of Alaska is amended by adding a new section to 07 read: 08 APPLICABILITY. AS 21.09.210(q), enacted by sec. 1 of this Act, applies to a 09 property insurance contract entered into or renewed on or after the effective date of sec. 1 of 10 this Act. 11 * Sec. 5. The uncodified law of the State of Alaska is amended by adding a new section to 12 read: 13 TRANSITION: REGULATIONS. The director of the division of insurance may adopt 14 regulations necessary to implement the changes made by this Act. The regulations take effect 15 under AS 44.62 (Administrative Procedure Act), but not before the effective date of the law 16 implemented by the regulation. 17 * Sec. 6. Section 5 of this Act takes effect immediately under AS 01.10.070(c). 18 * Sec. 7. Except as provided in sec. 6 of this Act, this Act takes effect July 1, 2020.