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  1. Bama Politics
  2. Alabama
  3. Alabama House & Senate Bills
  4. 2014 Alabama Legislative Regular Session
  5. 2014 Alabama House Bills
  6. HB440 Alabama 2014 Session

HB440 Alabama 2014 Session

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In Committee

Bill Summary

Sponsors
  • David Sessions
  • Steve McMillan
  • James E. Buskey
  • Joe Faust
  • Harry Shiver
  • Chad Fincher
  • Napoleon Bracy
  • Alan Baker
  • Victor Gaston
  • Margie Wilcox
  • Adline Clarke
  • Randy Davis
Session
Regular Session 2014
Title
Homeowners insurance, counties contiguous to Mobile Bay and Gulf of Mexico, credits against insurance premium taxes for private property carriers who write coverage in Zones 1, 2, 3, and 4, geographic areas covered by Alabama Insurance Underwriting Association, Sec. 27-1-24.1 am'd.
Description

Under existing law, credits against insurance premium taxes are provided for private property insurance carriers who write homeowners insurance policies which include wind coverage in the counties of Alabama which are contiguous to the Gulf of Mexico and Mobile Bay, but only where at the time of the writing of the private policies the property was insured under the Alabama Insurance Underwriting Association, in an amount of 20 percent of the insurance premium tax otherwise due in Zone 4, and 35 percent of the insurance premium tax otherwise due in Zones 1, 2, and 3

This bill would revise existing law to provide credits in an amount of 20 percent of the insurance premium tax otherwise due in Zones M4, M5, B4, and B5, and 35 percent of the insurance premium tax otherwise due in Zones M1, M2, M3, B1, B2, B3, and South ICWW

To amend Section 27-1-24.1, Code of Alabama 1975, relating to credits against insurance premium taxes for private property insurance carriers who write homeowners insurance policies which include wind coverage in the counties of Alabama which are contiguous to the Gulf of Mexico and Mobile Bay, but only where at the time of the writing of the private policies the property was insured under the Alabama Insurance Underwriting Association, to change the zones in which the credits are available.

Subjects
Insurance

Bill Actions

Action DateChamberAction
April 1, 2014HPending third reading on day 17 Favorable from Ways and Means General Fund with 1 substitute
April 1, 2014HIndefinitely Postponed
February 20, 2014HRead for the second time and placed on the calendar with 1 substitute and
February 11, 2014HRead for the first time and referred to the House of Representatives committee on Ways and Means General Fund

Bill Text

Download HB440 Alabama 2014 Session PDF

Bill Documents

TypeLink
Bill Text HB440 Alabama 2014 Session - Introduced
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