New Jersey § 52:27ee-53

§ 52:27ee-53.

a. Annual insurance assessment. The Director of the Office of Management and Budget in the Department of the Treasury shall, on or before August 15 in each year, ascertain

and certify to the Commissioner of Banking and Insurance by category the total amount

of expenses incurred by the State in connection with the administration of the special

functions of the Division of Rate Counsel relative to the expenses of the Division of Rate Counsel in connection with the administration

of insurance rate cases during the preceding fiscal year. The Department of Banking and Insurance shall make a separate special assessment

on lines of insurance subject to the jurisdiction of the Director of the Division of Rate Counsel pursuant to subsection b. of section 48 of P.L.2005, c. 155 ( C.52:27EE-48 ) , on an annual basis, in accordance with the formula set forth in P.L.1995, c. 156 ( C.17:1C-19 et seq. ). b. Calculation of annual insurance assessment. The annual assessment shall be no more than a specified aggregate amount adjusted

annually for inflation, which shall be calculated and applied separately from the

maximum total assessment set forth in section 13 of P.L.1995, c. 156 ( C.17:1C-31 ). The amount collected for expenses pursuant to subsection a. of this section, shall not exceed the amount appropriated by the Legislature

for those expenses.