Synopsis
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.
Documents
Legislation
HB 7 — Session Law