There is created in the State Treasury a special fund to be designated as the 'Mississippi Health Insurance State Exchange Trust Fund.' The Commissioner of Insurance is authorized to expend monies from this fund for the payment of the expenses incurred in the creation, implementation or operation of an exchange. The amount to be contributed annually to the special fund shall be fixed each year by the commissioner as a percentage of fees assessed on the gross premiums charged on all policies sold on the exchange. This percentage shall not be more than three and a half percent (3.5%), unless otherwise approved by the Legislature. The user fees shall be collected directly by the exchange on all policies sold and remitted to the special fund on a monthly basis. Unexpended amounts remaining in the fund at the end of a fiscal year shall not lapse into the State General Fund, and any interest earned on amounts in the special fund shall be deposited to the credit of the special fund.Added by Laws, 2024, ch. 537, HB 1647,§ 3, eff. 5/14/2024.
Mississippi Legal Code