SUBJECT: INSURANCE
BILL NUMBER: HB 2320; SB 2876
INTRODUCED BY: HB by SAIKI by request; SB by KOUCHI by request
EXECUTIVE SUMMARY: This omnibus Insurance Code revision bill includes an electronic filing mandate.
Category Archives: Insurance Premiums (HRS 431)
HB 1522
SUBJECT: INCOME, FRANCHISE, INSURANCE PREMIUM, Diversified Farming Business Investment Tax Credit
BILL NUMBER: HB 1522
INTRODUCED BY: MCKELVEY, MORIKAWA, SAN BUENAVENTURA, TODD, WARD
EXECUTIVE SUMMARY: Enacts a new income tax credit to encourage investment in sustainable agriculture. A direct appropriation would be preferable as it would provide some accountability for the taxpayer funds being utilized to support this effort. Meaning, we as taxpayers know what we’re getting and we know how much we’re paying for it.
SB 2854, CD-1
SUBJECT: INSURANCE, Require Electronic Filing and Payment for Premium Taxes
BILL NUMBER: SB 2854, CD-1
INTRODUCED BY: Conference Committee
EXECUTIVE SUMMARY: Sections 3 and 4 of the bill require e-filing and e-payment of premium tax returns. The requirement is made applicable to all insurers, which appears appropriate.
SB 2547, CD-1
SUBJECT: GENERAL EXCISE, USE, PUBLIC SERVICE COMPANY, INSURANCE PREMIUM, Periodic Review of Exemptions, Deductions, and Credits
BILL NUMBER: SB 2547, CD-1
INTRODUCED BY: Conference Committee
EXECUTIVE SUMMARY: This bill would require the State Auditor to periodically review the myriad exemptions, deductions, and other tax benefits now provided under chapters 237, 238, and 239, as well as some miscellaneous provisions.
SB 2854, HD-1
SUBJECT: INSURANCE, Require Electronic Filing and Payment for Premium Taxes
BILL NUMBER: SB 2854, HD-1
INTRODUCED BY: House Committee on Consumer Protection & Commerce
EXECUTIVE SUMMARY: Sections 3 and 4 of the bill require e-filing and e-payment of premium tax returns. The bill as it now exists sets a liability threshold which the Insurance Commissioner thinks is not necessary. It also dissociates filing and payment, which decreases administrative efficiency.
SB 2854, SD-2
SUBJECT: INSURANCE, Require Electronic Filing and Payment for Premium Taxes
BILL NUMBER: SB 2854, SD-2
INTRODUCED BY: Senate Committee on Ways and Means
EXECUTIVE SUMMARY: Sections 3 and 4 of the bill require e-filing and e-payment of premium tax returns. Consideration might be given to setting liability thresholds at which the filing and/or payment requirements are triggered.
SB 2854, SD-1
SUBJECT: INSURANCE, Require Electronic Filing and Payment for Premium Taxes
BILL NUMBER: SB 2854, SD-1
INTRODUCED BY: Senate Committee on Commerce, Consumer Protection, and Health
EXECUTIVE SUMMARY: Sections 3 and 4 of the bill require e-filing and e-payment of premium tax returns. Consideration might be given to setting liability thresholds at which the filing and/or payment requirements are triggered.
SB 2547
SUBJECT: GENERAL EXCISE, USE, PUBLIC SERVICE COMPANY, INSURANCE PREMIUM, Periodic Review of Exemptions, Deductions, and Credits, Surcharge on Beneficiaries of Tax Benefits
BILL NUMBER: SB 2547
INTRODUCED BY: TOKUDA, BAKER, DELA CRUZ, ENGLISH, GALUTERIA, INOUYE, KEITH-AGARAN, KIDANI, NISHIHARA, SHIMABUKURO
EXECUTIVE SUMMARY: This bill would require the State Auditor to periodically review the myriad exemptions, deductions, and other tax benefits now provided under chapters 237, 238, and 239. The cost of the review would be recovered by a surcharge on those who now take the exemptions. This type of review, however, should already be within the purview of the Tax Review Commission that is provided for in our constitution and is supposed to be appointed this year (given that it wasn’t appointed last year when it was supposed to happen). In addition, the surcharge would be unfair to the recipients of income that is exempt by design of the tax system.
SB 724; HB 725 (Identical)
SUBJECT: INSURANCE PREMIUMS, Additional tax mutual benefit society or health maintenance organization
INTRODUCED BY: SB by Baker; HB by McKelvey, Belatti, Evans, Morikawa and 3 Democrats
BRIEF SUMMARY: Amends HRS section 431:7-202 to provide that effective July 1, 2015, to June 30, 2017, a mutual benefit society or health maintenance organization that offers a health care insurance plan shall be subject to a gross premiums tax of 4.265% if they file for a rate increase between January 1, 2015 and June 30, 2017. If they don’t file for a rate increase, then they would not be liable for the tax. Continue reading SB 724; HB 725 (Identical)