HB85 Alabama 2021 Session
In Committee
Bill Summary
Sponsors
Session
Regular Session 2021
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
<p class="bill_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</p><p class="bill_description">
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</p><p class="bill_entitled_an_act"> To amend Section 27-4A-3, Code of Alabama 1975,
relating to the insurance premium tax credits.
</p>
Subjects
Insurance Premium Tax
Bill Actions
| Action Date | Chamber | Action |
|---|---|---|
| February 2, 2021 | H | Read for the first time and referred to the House of Representatives committee on Ways and Means General Fund |
Bill Text
Bill Documents
| Type | Link |
|---|---|
| Bill Text | HB85 Alabama 2021 Session - Introduced |