HB 7/a HEALTH CARE AFFORDABILITY FUND DISTRIBUTION

Rep Reena C Szczepanski

Actions: HPREF [1] HHHC/HAFC-HHHC [3] DP-HAFC [9] DP/a [11] PASSED/H (51-14) [7] STBTC/SFC-STBTC [9] DP-SFC [10] DP/a [13] PASSED/S (26-13) [15] h/cncrd SGND BY GOV (Mar. 1) Ch. 32.

Scheduled: Not Scheduled

 House Bill 7 (HB 7) eliminates a scheduled decrease in funds being distributed to the Health Care Affordability Fund 

 House Bill 7 (HB 7) eliminates a distribution decrease beginning July 1, 2024, to the Health Care Affordability Fund. Currently the distribution from the Health Insurance Premium Surtax is 55% and due to be permanently reduced to 30% on July 1, 2024. 

 Amended February 13, 2024 in SFC

SFCa/HB 7 HAFCa: The Senate Finance Committee amends House Bill 7 HAFCa as follows:
•	Strikes HAFCa one-year delay in a decrease to 30% of the distribution of the Health Insurance Premium Surtax to the Health Care Affordability Fund beginning in 2025. 
•	HB 7 HAFCa SFCa restores the distribution to the current level (55%) and temporarily decreases it to 30% beginning July 1, 2024 for 14 months. The distribution rises back to 55% September 1, 2025.


Amended February 6, 2024 in HAFC:

HAFCa/HB 7: The House Appropriations & Finance Committee amends House Bill 7 as follows:

In Section 1 (page 1, lines 20-21) The House Appropriations & Finance Committee delays an increase of 55% in distribution to the fund beginning in July 1, 2025. The current distribution of 30% will remain through June 30, 2025.