The bill aims to adjust the insurance premium tax rate by proposing changes to the taxation of insurance premiums. It seeks to amend existing tax laws related to insurance companies and their premium taxes. The main provisions include altering the tax rates applied to insurance premiums, potentially impacting the financial obligations of insurance providers. This adjustment could have significant implications for how insurance companies are taxed and may influence their operational costs and pricing strategies.
2023-01-16: First reading, referred to Consumer Protection & Business.
2023-01-24: Public hearing in the House Committee on Consumer Protection & Business at 1:30 PM.
2024-01-08: By resolution, reintroduced and retained in present status.
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