(a) Beginning on January 1, 2019, until December 31, 2029, there shall be imposed a surcharge at the rate of twelve dollars on the named insured under each policy of homeowners insurance delivered, issued for delivery, renewed, amended or endorsed on or after January 1, 2019, for a personal risk insurance policy on owned dwellings with four or fewer units or on condominiums. Such surcharge shall not be considered premium for any purpose.
(b) (1) Acting on behalf of, and as a collection agent of the Healthy Homes Fund established pursuant to section 8-446, each admitted and nonadmitted insurer shall remit to the Insurance Commissioner, not later than the thirtieth day of April annually, all surcharges imposed under subsection (a) of this section on the named insured that were collected during the calendar year next preceding for each such policy delivered, issued or renewed before January first of the then current calendar year. Each such remittance shall include documentation, in the form and manner prescribed by the commissioner, to substantiate the total surcharge amount being remitted by such insurer or licensee.
(2) All such remittances under subdivision (1) of this subsection, except for the amount of remittances equal to the cost of funding an administrative officer position at the Insurance Department to facilitate the surcharge collection, shall be deposited in the Healthy Homes Fund established in section 8-446. Not later than thirty days after such deposit in the Healthy Homes Fund, eighty-five per cent of such deposits shall be transferred to the Crumbling Foundations Assistance Fund established in section 8-441.
(3) The surcharge imposed pursuant to subsection (a) of this section shall constitute a special purpose assessment for the purposes of section 12-211.
(c) The commissioner may adopt regulations, in accordance with chapter 54, to implement the provisions of this section.
(P.A. 18-160, S. 1.)
History: P.A. 18-160 effective January 1, 2019, and applicable to policies delivered, issued or renewed on or after January 1, 2019.
See Sec. 8-446 for additional provisions re Healthy Homes Fund.
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