Washington D.C. Council Bill 220276 (Prior Session Legislation)

---

Completed Legislative Action
Spectrum: Partisan Bill (Democrat 1-0)
Status: Passed on January 30 2019 - 100% progression
Action: 2019-01-30 - Signed with Act Number A22-0615
Text: Latest bill text (Enrolled) [PDF]

As introduced, this bill requires the Commissioner of the Department of Insurance, Securities and Banking to value certain contracts on an annual basis based on the standard required in the valuation manual. It requires the valuation manual to specify definitions and minimum valuation standards for policies and contracts. It expands the Commissioner's authority to require companies to adjust their reserves and establish reserves as specified in the valuation manual. It allows the Commissioner to share and receive confidential information for enforcement purposes. Among other things it also requires companies to certify via actuary that the company's reserves and related actuarial items are computed properly.

Principal-based Reserves Amendment Act Of 2017

Cnc. Phil Mendelson [D]

2018-12-18 - Council - Final Reading CC (Y: 12 N: 0 NV: 1 Abs: 0) [PASS]
2018-12-04 - Council - First Reading CC (Y: 12 N: 0 NV: 1 Abs: 0) [PASS]

Date	Chamber	Action
2019-01-30	Council	Signed with Act Number A22-0615
2019-01-30	Council	Enacted with Act Number A22-0615
2019-01-15	Council	Transmitted to Mayor, Response Due on January 30, 2019
2018-12-18	Council	Final Reading CC
2018-12-04	Council	First Reading CC
2018-11-28	Council	Committee Report Filed
2018-11-20	Council	Committee Mark-up of B22-0276
2018-10-03	Council	Public Hearing Held
2018-09-14	Council	Notice of Public Hearing Published in the DC Register
2017-05-05	Council	Notice of Intent to Act on B22-0276 Published in the DC Register
2017-05-02	Council	Referred to Committee on Business and Economic Development
2017-05-02	Council	Introduced in Legislative Meeting

Type	Source
Summary	http://lims.dccouncil.gov/Legislation/B22-0276
Text	http://lims.dccouncil.gov/Download/38022/B22-0276-Introduction.pdf
Text	http://lims.dccouncil.gov/Download/38022/B22-0276-Engrossment.pdf
Text	http://lims.dccouncil.gov/Download/38022/B22-0276-Enrollment.pdf
Roll Call	http://lims.dccouncil.gov/Legislation/B22-0276