2002 Regular Session

HOUSE BILL 1365

File Code: Insurance - Other than Health
Sponsored By:
Delegate Donoghue
Entitled:
Property and Casualty Insurers - Premium Tax Credit for Guaranty Corporation Assessments

Synopsis:

Allowing a credit against the insurance premium tax for assessments paid by a member insurer to the Property and Casualty Insurance Guaranty Corporation, to the extent the assessment paid for an account exceeds 0.5% of the member insurer's net direct written premiums for the preceding calendar year on the kinds of insurance covered by the account; repealing a provision requiring that rates and premiums include amounts to recoup assessments paid to the Corporation; etc.

History by Legislative Date

House Action
2/21
First Reading House Rules and Executive Nominations
2/25
Re-referred Economic Matters
2/27
Hearing 3/14 at 1:00 p.m.
3/6
Hearing cancelled
Hearing 3/12 at 1:00 p.m.
3/22
Unfavorable Report by Economic Matters
Senate Action
No Action
Bill indexed under the following Subjects:
ASSESSMENTS
INSURANCE -see also- HEALTH INS; MAIF; MOTOR VEHICLE INS
REVENUE AND TAXES -see also- DEV FEES & TAXES; specific tax.
TAX CREDITS -see also- CIRCUIT BREAKER
Bill affects the following Statutes:
Insurance
( 6-121 , 9-313 , 9-313 )

Documents:

Bill Text: First Reading (PDF), Third Reading, Enrolled
Fiscal Note: Available (PDF)
Amendments: None offered