Chapter 34 Oregon Laws 2010 Special Session

AN ACT

SB 1047

Relating to exemption from premium assessment of premiums earned on health plan policies delivered or issued for delivery outside Oregon; creating new provisions; amending ORS 743.961; and declaring an emergency.

Be It Enacted by the People of the State of Oregon:

SECTION 1. ORS 743.961 is amended to read:

          743.961. (1) No later than 45 days following the end of a calendar quarter, an insurer shall pay an assessment at the rate of one percent of the gross amount of premiums earned by the insurer during that calendar quarter that were derived from health plan policies[:]

          [(a) Insuring Oregon residents; or]

          [(b)] delivered or issued for delivery in Oregon.

          (2) The assessment shall be paid to the Department of Consumer and Business Services and shall be accompanied by a verified form prescribed by the department together with any information required by the department, that reports:

          (a) All health plans issued or renewed by the insurer during the calendar quarter for which the assessment is paid; and

          (b) The gross amount of premiums by line of insurance, derived by the insurer from all health plans issued or renewed by the insurer during the calendar quarter for which the assessment is paid.

          (3) The assessment imposed under this section is in addition to and not in lieu of any tax, surcharge or other assessment imposed on an insurer.

          (4) Any rate filed for the department’s approval may include amounts paid by the insurer under this section as a valid element of administrative expense or retention.

SECTION 2. The amendments to ORS 743.961 by section 1 of this 2010 Act apply to premiums earned by an insurer on or after October 1, 2009.

SECTION 3. This 2010 Act being necessary for the immediate preservation of the public peace, health and safety, an emergency is declared to exist, and this 2010 Act takes effect on its passage.

Approved by the Governor March 4, 2010

Filed in the office of Secretary of State March 4, 2010

Effective date March 4, 2010

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