Date: 03/29/2012

Final
BILL SUMMARY for SB12-110

HOUSE COMMITTEE ON FINANCE

Votes: View--> Action Taken:
Refer Senate Bill 12-110 to the Committee on ApproPASS



11:56 AM -- Senate Bill 12-110 - Concerning Insurance Fraud

Representative Levy, prime sponsor, explained that Senate Bill 12-110 establishes a two-tier fee schedule for insurance companies based on total income received in Colorado by companies in the prior year. The fee replaces the current fee of $561 and is capped at $3,000. She said that it will be set by the Commissioner of Insurance based on the direct and indirect costs of the investigation and prosecution of allegations of insurance fraud.

The following person testified:

11:59 AM -- Mr. Michael Dougherty, Colorado State Attorney General's Office, testified in support of the bill. He noted that under the bill, insurance companies with income above $1.0 million will pay one fee and those with incomes of less than $1.0 million will pay a lower fee.
BILL:SB12-110
TIME: 12:09:47 PM
MOVED:Pabon
MOTION:Refer Senate Bill 12-110 to the Committee on Appropriations. The motion passed on a vote of 12-0, with 1 member excused.
SECONDED:Kefalas
VOTE
Acree
Yes
Beezley
Yes
Conti
Yes
Holbert
Yes
Hullinghorst
Yes
Kagan
Yes
Kefalas
Yes
Labuda
Yes
McCann
Yes
Pabon
Yes
Swalm
Excused
Swerdfeger
Yes
DelGrosso
Yes
Final YES: 12 NO: 0 EXC: 1 ABS: 0 FINAL ACTION: PASS