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Committee hears bill to cap insurer premium-tax amendment window at three years
Summary
The House Insurance Committee heard HB1263, which would limit insurer retroactive premium-tax amendments to a three-year look-back to provide revenue certainty after a seven-year review produced a $142 million refund in FY2025; the measure was presented for hearing only.
Chairman Lumsden presented House Bill 12-63 to the House Insurance Committee on Friday, saying the Department of Insurance bill would cap the statutory window for insurers to amend prior-year premium-tax filings at three years. Lumsden said the change is meant to align premium-tax amendments with the common three-year amendment window used for individual income tax administration.
"By capping that look back period for 3…
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