Current with changes from the 2024 legislative session through ch. 845
Section 38.2-6603 - Accounting; reportsA. The Commission shall keep an accounting for each benefit year of all: 1. Funds appropriated for reinsurance payments and administrative and operational expenses;2. Requests for reinsurance payments received from eligible carriers;3. Reinsurance payments made to eligible carriers; and4. Administrative and operational expenses incurred for the Program.B. By November 1 of each year, the Commission shall report to the House Committees on Labor and Commerce and Appropriations, the Senate Committees on Commerce and Labor and Finance and Appropriations, and the Governor on the operation of the Program. Such report shall be posted on the Commission's website and shall include, at a minimum, the following information for the relevant benefit year:1. Amounts deposited into the Fund;2. Requests for reinsurance payments received by eligible carriers;3. Reinsurance payments made to eligible carriers;4. Administrative and operational expenses incurred for the Program; and5. Quantifiable impact of the Program on individual health insurance coverage rates. 2021, Sp. Sess. I, c. 480.Added by Acts 2021SP1 c. 480,§ 1, eff. 30 days following the date the State Corporation Commission (the Commission) notifies the Governor and the Chairmen of the House Committees on Labor and Commerce and Appropriations and the Senate Committees on Commerce and Labor and Finance and Appropriations of federal approval of the State Innovation Waiver request required to be submitted by the Commission pursuant to § 38.2-6606 of the Code of Virginia, as created by this act..