HB 292-FN - AS AMENDED BY THE HOUSE
HOUSE BILL 292-FN
SPONSORS: Rep. Butler, Carr. 7
COMMITTEE: Commerce and Consumer Affairs
This bill includes brokers fees in the calculation of the insurance premium tax.
This bill is a request of the insurance department.
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Explanation: Matter added to current law appears in bold italics.
Matter removed from current law appears [in brackets and struckthrough.]
Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
27Feb2019... 0074h 19-0797
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Nineteen
Be it Enacted by the Senate and House of Representatives in General Court convened:
405:25 Monthly Statements. Every such licensee shall, on or before the tenth day of each month, execute and file with the commissioner, a statement under oath covering all insurance policies and contracts of insurance or suretyship procured by [him] the licensee under his or her said license during the calendar month next preceding, giving the name of the company issuing each of said policies, the name and residence of the insured and the amount, term and premium including policy, membership, and other fees and assessments, policy dividends applied in payment for insurance and all other considerations for insurance received by it during the next preceding calendar year on account of policies covering property, subjects, or risks located, resident, or to be performed in this state, excluding policies on multi-state risks in which New Hampshire is not the home state as provided in 15 U.S.C. section 8201, et seq., of each policy and contract and the kind of property or risk insured thereby, and that he or she was unable to procure in companies admitted to do business in the state the amount of insurance necessary to protect said property or risk.
I. Each licensed producer shall file with the commissioner, not later than January 31st of each year, a sworn statement of the gross premiums, including policy, membership, and other fees and assessments, policy dividends applied in payment for insurance and all other considerations for insurance received by it during the next preceding calendar year on account of policies covering property, subjects, or risks located, resident, or to be performed in this state, excluding policies on multi-state risks in which New Hampshire is not the home state as provided in 15 U.S.C. section 8201, et seq., charged for insurance procured or placed and the gross return premiums on such insurance canceled under such license during the year ending on December 31 next preceding, and at the time of filing such statement shall pay to the state treasurer a sum equal to 3 percent of such gross premiums less such return premiums reported.
HB 292-FN- FISCAL NOTE
AS AMENDED BY THE HOUSE (AMENDMENT #2019-0074h)
FISCAL IMPACT: [ X ] State [ ] County [ ] Local [ ] None
Estimated Increase / (Decrease)
[ X ] General [ ] Education [ ] Highway [ ] Other
This bill would include brokers fees in the calculation of the insurance premium tax. The Insurance Department indicates the bill would increase premium tax revenue by an indeterminable amount in FY 2020 and each year thereafter. The Department does not currently have the data necessary to estimate how much additional revenue would result from this bill.
|Jan. 2, 2019||Introduced 01/02/2019 and referred to Commerce and Consumer Affairs HJ 2 P. 44|
|Jan. 10, 2019||Public Hearing: 01/10/2019 11:00 am LOB302|
|Jan. 22, 2019||Subcommittee Work Session: 01/22/2019 11:00 am LOB 302|
|Jan. 22, 2019||==RECESSED== Executive Session: 01/22/2019 01:30 pm LOB 302|
|Feb. 6, 2019||Subcommittee Work Session: 02/06/2019 09:30 am LOB 104|
|Feb. 6, 2019||==CONTINUED== Executive Session: 02/06/2019 02:00 pm LOB 302|
|Committee Report: Ought to Pass with Amendment # 2019-0074h (Vote 14-4; RC)|
|Feb. 27, 2019||Committee Report: Ought to Pass with Amendment # 2019-0074h for 02/27/2019 (Vote 14-4; RC) HC 13 P. 16|
|Feb. 27, 2019||Amendment # 2019-0074h: AA VV 02/27/2019|
|Feb. 27, 2019||Ought to Pass with Amendment 2019-0074h: MA VV 02/27/2019|
|Feb. 27, 2019||Referred to Ways and Means 02/27/2019|
|March 6, 2019||Public Hearing: 03/06/2019 11:00 am LOB 202|
|March 18, 2019||Full Committee Work Session: 03/18/2019 01:00 pm LOB 202|
|Jan. 10, 2019||House||Hearing|
|Jan. 22, 2019||House||Exec Session|
|Feb. 6, 2019||House||Exec Session|
|Feb. 27, 2019||House||Floor Vote|
|March 6, 2019||House||Hearing|