Introduced
by
To establish and impose state regulations on “captive insurance companies,” which are defined as a subsidiary created only to insure some or all of the risks of its parent company, which may be a single business or insurer, a trade association, or a group of companies in a particular industry. The bill would also impose a separate tax regime and rates on these entities.
Referred to the Committee on Banking and Financial Institutions
Reported without amendment
With the recommendation that the bill pass.
Substitute offered
To replace the previous version of the bill with one that revises details but does not change the substance of the bill as previously described. Among other changes the bill would style the levies imposed on these entities as "fees" rather than a tax.
The substitute passed by voice vote
Passed in the Senate 36 to 1 (details)
To establish and impose state regulations on “captive insurance companies,” which are defined as a subsidiary created only to insure some or all of the risks of its parent company, which may be a single business or insurer, a trade association, or a group of companies in a particular industry. The bill would also impose a separate fee (tax) regime and rates on these entities.
Referred to the Committee on Insurance
Reported without amendment
Without amendment and with the recommendation that the bill pass.
Substitute offered
by
To replace the previous version of the bill with one that revises details but does not change the substance of the bill as previously described.
The substitute passed by voice vote
Passed in the House 107 to 0 (details)
To establish and impose state regulations on “captive insurance companies,” which are defined as a subsidiary created only to insure some or all of the risks of its parent company, which may be a single business or insurer, a trade association, or a group of companies in a particular industry. The bill would also impose a separate fee (tax) regime and rates on these entities.
To concur with the House-passed version of the bill.
Passed in the Senate 34 to 0 (details)
