Insurance: other; allocation of revenue under the insurance provider assessment act; modify. Amends sec. 13 of 2018 PA 175 (MCL 550.1763).

This bill modifies the Insurance Provider Assessment Act to clarify how revenue collected from insurance companies is managed and spent. It establishes rules for depositing funds into a state treasury account, directing the state treasurer to invest the money and credit interest earnings back to the fund. The legislation specifies that these funds can only be used for designated purposes, such as paying Medicaid managed care rates, offsetting revenue losses from previous health insurance assessments, covering administrative costs, and funding a health data utility with amounts that increase annually and adjust for inflation. Additionally, the bill ensures that any leftover money remains in the fund rather than being returned to the general state treasury. The changes will not take effect unless a companion bill, House Bill No. 5283, is also passed into law.