HB435 Alabama 2020 Session
Summary
- Primary Sponsor
-
David WheelerRepublican - Session
- Regular Session 2020
- Title
- Insurance premium tax credits, to expand the Alabama Insurance Offices Facilities Credit for certain activities, to expand who can be an affiliate, Sec. 27-4A-3 am'd.
- Description
Under existing law, insurers licensed in Alabama are required to pay a tax based on the percentage of premiums received by the insurer for business transacted in Alabama. The insurance premium tax rate is reduced by credits for certain economic development activities pursued in this state.
This bill would expand the Alabama Insurance Offices Facilities Credit for certain activities and expand the definition of "affiliate" to include licensed producers appointed by an insurer.
- Subjects
- Insurance Premium Tax
Bill Actions
Read for the first time and referred to the House of Representatives committee on Ways and Means General Fund
Bill Text
Documents
Source: Alabama Legislature