Captive Insurance/Timing of Payments for Taxes

What it does

The legislature's own summary of the bill, or its official long title.

This bill resolves an internal inconsistency in the Insurance Code regarding the timing of payment of taxes for captive insurance companies and surplus lines brokers. Sections 1917 and 6914 of the Insurance Code specifically address the amount and timing of taxes due for surplus lines brokers and captive insurance companies, respectively. Surplus lines brokers and captive insurance companies will continue to pay premium taxes in accordance with Sections 1917 and 6914, respectively, as they have historically.

Every action

7 steps, oldest first, as the legislature records them.

1. Jan 16, 2025CommitteeIntroduced and Assigned to Economic Development/Banking/Insurance & Commerce Committee in House · House Economic Development/Banking/Insurance & Commerce
2. Jan 22, 2025CommitteeReported Out of Committee (Economic Development/Banking/Insurance & Commerce) in House with 11 On Its Merits · House Economic Development/Banking/Insurance & Commerce
3. Jan 28, 2025HousePassed By House. Votes: 36 YES 5 ABSENT36–0 vote
4. Jan 28, 2025CommitteeAssigned to Banking, Business, Insurance & Technology Committee in Senate · Senate Banking, Business, Insurance & Technology
5. Mar 19, 2025CommitteeReported Out of Committee (Banking, Business, Insurance & Technology) in Senate with 5 On Its Merits · Senate Banking, Business, Insurance & Technology
6. Mar 27, 2025SenatePassed By Senate. Votes: 19 YES 2 ABSENT19–0 vote
7. Apr 14, 2025GovernorSigned by Governor

Roll calls

2 recorded votes: 2 on the floor, 0 in committee. Each shows how every member voted.

Sponsors

The member who introduced it, joined by 2 cosponsors: 2 Democrats.

• WB William BushD Primary sponsor · District 29
• SM Spiros MantzavinosD Joint sponsor · District 7