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Committee advances overhaul of certain insurance premium tax credits, sets flat property‑casualty rate and a rate floor
3297216 · May 13, 2025
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Summary
Lawmakers approved amendments to HB594 that establish a flat property‑casualty premium tax rate and phase out select investment‑based premium tax reductions; the measure excludes life and health lines and includes a trigger tied to collections to reduce rates further subject to a floor.
The committee reported House Bill 594 favorably with amendments that simplify and restructure parts of the insurance premium tax code for property and casualty insurers while leaving life, health and accident lines unchanged.
Committee amendments set a flat premium tax rate for property and…
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