Amends existing law to appropriate one-quarter of the insurance premium tax exceeding $45 million to the Individual High Risk Reinsurance Pool.

This bill corrects an inadvertent error in Senate Bill 1014 (2013 Session Laws, Chapter 90) which eliminated a long time funding source to the Idaho Individual High Risk Reinsurance Pool established in Chapter 55, title 41, Idaho Code. Since 2000, Idaho Code § 41-406(d) has provided that one fourth of the insurance premium tax, to the extent it exceeded $45 million, was appropriated to that High Risk Reinsurance Pool. Section 2 of Senate Bill 1014 eliminated that funding effective October 1, 2015, despite the fact that the bill's focus as reflected in its Title and Statement of Purpose was on three unrelated health and welfare programs: CHIP Plan B, Children's Access Card and the Small Business Health Insurance Pilot Program. The high risk pool funding mechanism was not mentioned in the Title or the Statement of Purpose. This bill reinstates the high risk pool's historical funding source and formula as it was before Senate Bill 1014 passed. This bill has a retroactive effective date to October 1, 2015, thereby correcting the error as if it had not occurred.