Revision: Feb. 24, 2026, 4:48 p.m.
Rep. Mary Murphy, Hills. 27
Rep. Janigian, Rock. 25
February 18, 2026
2026-0799h
07/05
Amendment to HB 1194-FN
Amend the bill by replacing section 1 with the following:
1 Life and Health Insurance Guaranty Association of 2019; Credits for Assessments Paid. RSA 408-F:13 is repealed and reenacted to read as follows:
408-F:13 Credits for Assessments Paid.
I. In this section:
(a) “Eligible assessment credits” means credits arising from assessments paid by a member insurer pursuant to RSA 408-F:9 that are otherwise allowable against tax liability under RSA 400-A.
(b) “Aggregate annual limitation” means the maximum amount of eligible assessment credits that may be recognized by all member insurers in any calendar year, as established in paragraph II.
(c) “Deferred credits” means eligible assessment credits that are not recognized in the calendar year in which they would otherwise be claimable solely by operation of the aggregate annual limitation.
(d) "Commissioner" means the commissioner of the insurance department.
II.(a) The total amount of eligible assessment credits recognized by all member insurers in any calendar year shall not exceed $10,000,000.
(b) Eligible assessment credits shall be applied only after the full calculation of tax liability under RSA 400-A and shall not operate to reduce tax liability below zero.
(c) If eligible assessment credits otherwise claimable in a calendar year exceed the aggregate annual limitation, the amount of credit which each member company shall be permitted to carry forward will be calculated as the percentage of the member company’s deferred credit relative to the total deferred credit.
(d) The portion of eligible assessment credits exceeding the aggregate annual limitation:
(1) Shall constitute deferred credits, and
(2) Shall remain valid eligible assessment credits subject solely to timing limitation
under this section.
(e) Deferred credits shall be applied in the order in which they are accrued.
(f) Deferred credits shall not be transferred, assigned, or conveyed except as otherwise expressly authorized by statute.
III.(a) Deferred credits may be carried forward for recognition for up to 7 consecutive calendar years following the year in which the credits first became deferred.
(b) Recognition of deferred credits in any calendar year shall remain subject to the aggregate annual limitation.
(c) No member insurer shall recognize more than 14.28 percent of the aggregate annual limitation in any calendar year from deferred credits, unless the commissioner determines that strict application of this limitation would materially impair the orderly administration of this section.
IV. In any calendar year in which the aggregate annual limitation is not reached, member insurers may recognize eligible assessment credits at a rate of 20 percent for 5 years.
V.(a) Member insurers shall report eligible assessment credits and deferred credits in a form and manner prescribed by the commissioner.
(b) Deferred credits shall not be treated as admitted assets except to the extent permitted under statutory accounting principles.
(c) Deferral of credits pursuant to this section shall not affect the legal status of the credit.
VI. If a member insurer ceases doing business, any uncredited assessments described above may be credited against its tax liability under RSA 400-A for the year it ceases doing business.
VII. Any sums acquired by refund from the association that were previously recognized as credits shall be remitted to the state in the manner required by the commissioner. The association shall notify the commissioner of such refunds.
VIII. The commissioner may adopt rules under RSA 541-A as necessary to implement and administer the provisions of this section.