Legislation

Title: Insurance – Annuities – Nonforfeiture – Interest Rate
Sponsored by: Senator Feldman
Status: Enacted under Article II, Section 17(c) of the Maryland Constitution - Chapter 693
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:: Finance Click to view Recorded Media

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

Committee Testimony

Witness List

Details

Cross-filed with: HB0119

Bill File Type: Pre-Filed

Effective Date(s): October 1, 2022

History

Legislation History
Chamber Senate Calendar Date 9/09/2021 Legislative Date 9/09/2021 Action Pre-filed Proceedings
Chamber Senate Calendar Date 1/12/2022 Legislative Date 1/12/2022 Action First Reading Finance Proceedings
Chamber Calendar Date Legislative Date Action Text - First - Insurance – Annuities – Nonforfeiture – Interest Rate Proceedings
Chamber Senate Calendar Date 1/14/2022 Legislative Date 1/14/2022 Action Hearing 1/26 at 1:00 p.m. Proceedings
Chamber Calendar Date Legislative Date Action Vote - Senate - Committee - Finance Proceedings Click to view Recorded Media
Chamber Senate Calendar Date 2/07/2022 Legislative Date 2/07/2022 Action Favorable Report by Finance Proceedings
Chamber Senate Calendar Date 2/08/2022 Legislative Date 2/08/2022 Action Favorable Adopted Proceedings 20 Click to view Recorded Media
Chamber Senate Calendar Date 2/08/2022 Legislative Date 2/08/2022 Action Second Reading Passed Proceedings 20 Click to view Recorded Media
Chamber Calendar Date Legislative Date Action Text - Third - Insurance – Annuities – Nonforfeiture – Interest Rate Proceedings
Chamber Senate Calendar Date 2/10/2022 Legislative Date 2/10/2022 Action Third Reading Passed (45-0) Proceedings 22 Click to view Recorded Media
Chamber House Calendar Date 2/17/2022 Legislative Date 2/17/2022 Action Referred Health and Government Operations Proceedings 14 Click to view Recorded Media
Chamber House Calendar Date 3/18/2022 Legislative Date 3/18/2022 Action Hearing 3/24 at 1:30 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 3/30/2022 Legislative Date 3/30/2022 Action Favorable Report by Health and Government Operations Proceedings
Chamber House Calendar Date 3/30/2022 Legislative Date 3/23/2022 Action Favorable Adopted Second Reading Passed Proceedings 44 Click to view Recorded Media
Chamber House Calendar Date 3/31/2022 Legislative Date 3/24/2022 Action Third Reading Passed (129-3) Proceedings 45 Click to view Recorded Media
Chamber Senate Calendar Date 3/31/2022 Legislative Date 3/20/2022 Action Returned Passed Proceedings 60 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 693 Proceedings
Chamber Calendar Date Legislative Date Action Text - Chapter - Insurance – Annuities – Nonforfeiture – Interest Rate Proceedings

Chamber	Calendar Date	Legislative Date	Action	Proceedings
Senate	9/09/2021	9/09/2021	Pre-filed
Senate	1/12/2022	1/12/2022	First Reading Finance
			Text - First - Insurance – Annuities – Nonforfeiture – Interest Rate
Senate	1/14/2022	1/14/2022	Hearing 1/26 at 1:00 p.m.
			Vote - Senate - Committee - Finance	Click to view Recorded Media
Senate	2/07/2022	2/07/2022	Favorable Report by Finance
Senate	2/08/2022	2/08/2022	Favorable Adopted	20 Click to view Recorded Media
Senate	2/08/2022	2/08/2022	Second Reading Passed	20 Click to view Recorded Media
			Text - Third - Insurance – Annuities – Nonforfeiture – Interest Rate
Senate	2/10/2022	2/10/2022	Third Reading Passed (45-0)	22 Click to view Recorded Media
House	2/17/2022	2/17/2022	Referred Health and Government Operations	14 Click to view Recorded Media
House	3/18/2022	3/18/2022	Hearing 3/24 at 1:30 p.m.
			Vote - House - Committee - Health and Government Operations	Click to view Recorded Media
House	3/30/2022	3/30/2022	Favorable Report by Health and Government Operations
House	3/30/2022	3/23/2022	Favorable Adopted Second Reading Passed	44 Click to view Recorded Media
House	3/31/2022	3/24/2022	Third Reading Passed (129-3)	45 Click to view Recorded Media
Senate	3/31/2022	3/20/2022	Returned Passed	60 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 693
			Text - Chapter - Insurance – Annuities – Nonforfeiture – Interest Rate

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Subjects

Statutes