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Robert C. Paschal (Biography)
State Legislative Information:
P.O. Box 31627
Report July 23, 2007
Raleigh, North Carolina 27622
Report July 9, 2007
P: (919) 782-6860
Report July 2, 2007
F: (919) 782-6753
rcp@ymh.com
Risk Pool is Here
August 3. 2007
Yesterday the North
Carolina House voted to concur in Senate amendments to
the High Risk Pool legislation (H.B. 265), thereby
causing the bill to be ratified and sent to the Governor
for his signature.
Here's the final play by
play. The bill passed the House on May 1 with the funding
mechanism tied to assessments of insurers. The bill was
sent to Senate Commerce, which on July 23 gave it a
favorable report, but only after revising the funding
mechanism to repeal the small business tax credit and to
fund the Pool with State appropriations. The bill then went
"sideways" twice, first to Senate Finance and then to Senate
Appropriations. It was amended yet again to fund the Pool
with premium tax revenues rather than State appropriations.
On July 31 and August 1 the bill passed the Senate
unanimously on second and third readings, and yesterday,
also in a unanimous vote, the House voted to concur in
changes made to the bill by the Senate.
Thus, premium tax revenues
will fund the Pool when shortfalls arise, and as best I can
tell, the small business tax credit was not repealed after
all. But I will do some checking to verify this.
The General Assembly
adjourned late yesterday, and I will do my best to get you a
comprehensive closing report next week. But, for now, know
that the risk pool concept will be implemented in North
Carolina. My thanks to those who labored in the vineyard to
help bring this about, and look for my closing report next
week.
Robert C. Paschal
Young Moore & Henderson, P.A.
3101 Glenwood Avenue
Raleigh, North Carolina 27612
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