As of 4 p.m. Wednesday, February 19, 2003, the 43rd day of the 2003 Regular Legislative Session 636 bills have been introduced in the Senate. Of those, 11 bills were passed this week and will be sent to the House of Delegates for consideration. Among those passed were:
Senate Bill 340 would authorize county commissions to adopt different building restrictions in specified areas designated a flood plain, mud-slide area or flood hazard. This would clarify that county commissions may set different building restrictions in different levels of a flood plain to allow property owners to secure the lowest appropriate rate for federal flood insurance.
Senate Bill 395 would grant the Family Court Judge the power to order grandparent visitation as temporary relief during the time period in which a divorce is pending. The bill also clarifies that all issues with respect to grandparent visitation will be heard in Family Court.
Senate Bill 461 would update sections of the Corporation Net Income Tax Act, by bringing them into conformity with their meanings for federal income tax purposes.
Senate Bill 462 would update sections of the Personal Income Tax Act, by bringing them into conformity with their meanings for federal income tax purposes.
Senate Bill 56 would prohibit insurance companies, hospital service corporations, medical service corporations, health maintenance organizations (HMOs) and health care centers from requiring any person covered under an insurance contract to use a mail-order pharmacy in order to receive prescription drug benefits. The bill would also prohibit insurers from imposing an extra fee or a penalty upon the insured for using another pharmacy.
Senate Bill 400 would allow the Insurance Commissioner to disclose confidential information in certain cases in the course of his or her duty. The amendments would make these Code Sections consistent with provisions of the federal Gram-Leach-Blibley Act which are intended to encourage the exchange of information between state insurance regulators and federal banking agencies and to ensure that each party to the exchange will keep the information confidential and take reasonable steps to oppose efforts to secure disclosure of the information. This bill will add federal banking agencies to the list of entities with whom the insurance commissioner may provide certain confidential information.
Senate Bill 484 would amend the section that sets the scope of Article 20 (which deals generally with the regulation of insurance rates). The amendment would remove title insurance from the list of exemptions from the article. That is, the bill would make title insurance subject to rate filing and the Insurance Commissioner’s rate review process.
Senate Bill 485 would authorize the Insurance Commissioner to enter into certain agreements and compromises concerning the liability of any person with respect to any tax, interest, surcharge, additional tax, fee, or fine. Prior to commencing a civil action, the Commissioner could enter into a written closing agreement to settle a tax dispute. Absent fraud, malfeasance or misrepresentation of a material fact, the agreement would be final and binding. For presuit closing agreements, the Commissioner’s counsel must place an statement in the file as to the terms of the agreement and the reasons for the settlement. The Commissioner would be required to make a quarterly report to the Speaker of the House, the President of the Senate and to the Legislative Auditor which summarizes the amounts compromised, etc., and which would preserve the identity of the taxpayers.
Senate Bill 486 would require certified public accountants to notify the Insurer’s Board or Audit Committee of adverse financial condition. The bill would provide an additional safeguard against failure to properly disseminate information concerning the company’s financial condition. Under current law, an independent CPA performing an annual audited financial report is required to give written notification to the Insurance Commissioner and “an officer or director of the insurer” of a material misstatement of the financial position or shortfall of the minimum capital or surplus required by the Code.
Senate Bill 488 would establish a minimum surplus for farmers’ mutual fire insurance companies.
Senate Bill 206 would give teachers’ aides the authority to supervise students undergoing in school suspension if the instructional duties are limited to handing out and collecting class work and not actual instruction.
