It is enacted by the General Assembly as follows:
SECTION 1. Section 23-1-46 of the General Laws in Chapter 23-1 entitled "Department of Health" is hereby amended to read as follows:
{ADD 23-1-46. Insurers -- Assessment. -- ADD} Beginning in the fiscal year 1992-1993, and to be continued hereafter, notwithstanding the provisions of sections 27-19-2, 27-20-2, and 27-41-22, each insurer licensed or regulated pursuant to the provisions of chapters 18, 19, 20, and 41 of title 41 of title 27, shall be assessed an amount equal to seventy-five thousandths of one percent (.075%) of the direct premiums written by the insurer for Rhode Island groups and individuals, as defined in rules and regulations promulgated by the director of the Department of Health. {ADD Commencing in the fiscal year 1995-1996 and to be continued hereafter, each insurer's assessment shall be increased to one hundred twenty-one thousandths of one percent (.121%) of direct premiums written by the insurer as previously described. ADD}
Annual assessments shall be based on direct premiums written in the year prior to the assessment and shall not include any Medicaid or Medicare premiums. As to accident and sickness insurance, the direct premium written shall include, but shall not be limited to, group, blanket, and individual policies. The amount of the assessment shall be determined prior to August 1 of each year by the department of business regulation, division of insurance and be paid by the insurer, to the Department of Health prior to September 1 of each year. However, those insurers assessed greater than ten thousand dollars ($10,000) for the year shall be assessed four (4) payments of twenty-five percent (25%) of their total assessment, to be paid by September 1, and December 1, of each year and by March 1, and June 1 of each subsequent year. The director of the Department of Health shall deposit the said amount in the "Infant-Child Immunization Account". Said assessment shall be used solely for the purposes of the "Infant-Child Immunization Account" and no other.
{ADD Any funds collected in excess of funds needed to carry-out ACIP recommendations shall be deducted from the subsequent year's assessment. ADD}
SECTION 2. This act shall take effect July 1, 1995.