Legislation

Title: Insurance – Annuities – Nonforfeiture – Interest Rate
Sponsored by: Delegate Qi
Status: Enacted under Article II, Section 17(c) of the Maryland Constitution - Chapter 692
Analysis: Fiscal and Policy Note

Synopsis

Altering the minimum interest rate from 1% to 0.15%, used to determine minimum nonforfeiture amounts for annuity contracts.

Committees

Original:: Health and Government Operations Click to view Recorded Media

Opposite:: Finance

Committee Testimony

Witness List

Details

Cross-filed with: SB0164

Bill File Type: Pre-Filed

Effective Date(s): October 1, 2022

History

Legislation History
Chamber House Calendar Date 9/10/2021 Legislative Date 9/10/2021 Action Pre-filed Proceedings
Chamber House Calendar Date 1/12/2022 Legislative Date 1/12/2022 Action First Reading Health and Government Operations Proceedings
Chamber Calendar Date Legislative Date Action Text - First - Insurance – Annuities – Nonforfeiture – Interest Rate Proceedings
Chamber House Calendar Date 1/12/2022 Legislative Date 1/12/2022 Action Hearing 1/27 at 2:30 p.m. Proceedings
Chamber House Calendar Date 1/27/2022 Legislative Date 1/27/2022 Action Hearing canceled Proceedings
Chamber House Calendar Date 1/27/2022 Legislative Date 1/27/2022 Action Hearing 1/27 at 4:00 p.m. Proceedings
Chamber Calendar Date Legislative Date Action Vote - House - Committee - Health and Government Operations Proceedings Click to view Recorded Media
Chamber House Calendar Date 2/14/2022 Legislative Date 2/14/2022 Action Favorable Report by Health and Government Operations Proceedings
Chamber House Calendar Date 2/15/2022 Legislative Date 2/15/2022 Action Favorable Adopted Second Reading Passed Proceedings 13 Click to view Recorded Media
Chamber Calendar Date Legislative Date Action Text - Third - Insurance – Annuities – Nonforfeiture – Interest Rate Proceedings
Chamber House Calendar Date 2/17/2022 Legislative Date 2/17/2022 Action Third Reading Passed (125-5) Proceedings 14 Click to view Recorded Media
Chamber Senate Calendar Date 2/18/2022 Legislative Date 2/15/2022 Action Referred Finance Proceedings 27 Click to view Recorded Media
Chamber Calendar Date Legislative Date Action Vote - Senate - Committee - Finance Proceedings Click to view Recorded Media
Chamber Senate Calendar Date 3/29/2022 Legislative Date 3/29/2022 Action Favorable Report by Finance Proceedings
Chamber Senate Calendar Date 3/30/2022 Legislative Date 3/18/2022 Action Favorable Adopted Second Reading Passed Proceedings 58 Click to view Recorded Media
Chamber Senate Calendar Date 3/31/2022 Legislative Date 3/19/2022 Action Third Reading Passed (47-0) Proceedings 59 Click to view Recorded Media
Chamber House Calendar Date 3/31/2022 Legislative Date 3/25/2022 Action Returned Passed Proceedings 46 Click to view Recorded Media
Chamber Post Passage Calendar Date 5/29/2022 Legislative Date 5/29/2022 Action Enacted under Article II, Section 17(c) of the Maryland Constitution - Chapter 692 Proceedings
Chamber Calendar Date Legislative Date Action Text - Chapter - Insurance – Annuities – Nonforfeiture – Interest Rate Proceedings

Chamber	Calendar Date	Legislative Date	Action	Proceedings
House	9/10/2021	9/10/2021	Pre-filed
House	1/12/2022	1/12/2022	First Reading Health and Government Operations
			Text - First - Insurance – Annuities – Nonforfeiture – Interest Rate
House	1/12/2022	1/12/2022	Hearing 1/27 at 2:30 p.m.
House	1/27/2022	1/27/2022	Hearing canceled
House	1/27/2022	1/27/2022	Hearing 1/27 at 4:00 p.m.
			Vote - House - Committee - Health and Government Operations	Click to view Recorded Media
House	2/14/2022	2/14/2022	Favorable Report by Health and Government Operations
House	2/15/2022	2/15/2022	Favorable Adopted Second Reading Passed	13 Click to view Recorded Media
			Text - Third - Insurance – Annuities – Nonforfeiture – Interest Rate
House	2/17/2022	2/17/2022	Third Reading Passed (125-5)	14 Click to view Recorded Media
Senate	2/18/2022	2/15/2022	Referred Finance	27 Click to view Recorded Media
			Vote - Senate - Committee - Finance	Click to view Recorded Media
Senate	3/29/2022	3/29/2022	Favorable Report by Finance
Senate	3/30/2022	3/18/2022	Favorable Adopted Second Reading Passed	58 Click to view Recorded Media
Senate	3/31/2022	3/19/2022	Third Reading Passed (47-0)	59 Click to view Recorded Media
House	3/31/2022	3/25/2022	Returned Passed	46 Click to view Recorded Media
Post Passage	5/29/2022	5/29/2022	Enacted under Article II, Section 17(c) of the Maryland Constitution - Chapter 692
			Text - Chapter - Insurance – Annuities – Nonforfeiture – Interest Rate

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Statutes