§ 47-5107 — Individual Insurance Market Affordability and Stability Fund.

District of Columbia § 47-5107

• Jurisdiction: District of Columbia
• Title 47: Taxation, Licensing, Permits, Assessments, and Fees. [Enacted title]
• Ch. 51: Individual Taxpayer Health Insurance Responsibility Requirement.

Text

(a) There is established as a special fund the Individual Insurance Market Affordability and Stability Fund ("Fund"), which shall be administered by the Mayor in accordance with subsection (c) of this section.

(b) Revenue from the District shared responsibility payments collected pursuant to § 47-5103 shall be deposited into the Fund.

(c) Money in the Fund shall be used to:

(1) Engage in outreach to uninsured District residents to increase health insurance coverage;

(2) Provide information to District residents on options for health insurance coverage; and

(3) Engage in activities that increase the availability of health insurance options or increase the affordability of insurance premiums in the individual health insurance market, for District residents.

(1) The money deposited into the Fund shall not revert to the unrestricted fund balance of the General Fund of the District of Columbia at the end of a fiscal year, or at any other time.

(2) Subject to authorization in an approved budget and financial plan, any funds appropriated in the Fund shall be continually available without regard to fiscal year limitation.