Revision: April 15, 2026, 2:29 p.m.
HB 1194-FN - AS AMENDED BY THE SENATE
12Mar2026... 0799h
04/09/2026 1320s
2026 SESSION
26-2748
05/08
HOUSE BILL 1194-FN
SPONSORS: Rep. Janigian, Rock. 25
COMMITTEE: Ways and Means
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AMENDED ANALYSIS
This bill:
I. Modifies how insurance companies can claim tax credits for assessments paid to the New Hampshire Life and Health Insurance Guaranty Association by providing that, for certain assessments made after the effective date of the act, a member insurer may reduce its tax liability by claiming 10 percent of the assessment per year for 10 consecutive years.
II. Exempts conduct of a sports book or participation in sports wagering from criminal gambling statutes in certain instances.
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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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
12Mar2026... 0799h
04/09/2026 1320s 26-2748
05/08
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Twenty-Six
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 Life and Health Insurance Guaranty Association of 2019; Credits for Assessments Paid. Amend RSA 408-F:13 to read as follows:
408-F:13 Credits for Assessments Paid.
I. A member insurer may offset against its tax liability under RSA 400-A any assessment described in RSA 408-F:9, II(b) for the life insurance and annuity account, and for the health account for guaranteeing the performance of contractual obligations of an impaired or insolvent insurer [in regard] solely as to disability income coverages, only[,] to the extent of 20 percent of the amount of the assessment for each of the 5 consecutive calendar years immediately following the year in which the assessment was paid.
I-a. For assessments made after the effective date of this paragraph, including any additional assessments made on previously declared impaired or insolvent insurers, a member insurer may offset against its tax liability under RSA 400-A any assessment described in RSA 408-F:9, II(b) for the life insurance and annuity account, and for the health account for guaranteeing the performance of contractual obligations of an impaired or insolvent insurer solely as to disability income coverages, only to the extent of 10 percent of the amount of the assessment for each of the 10 consecutive calendar years immediately following the year in the which the assessment was paid.
I-b. If a member insurer ceases doing business, all uncredited assessments described above may be credited against its tax liability under RSA 400-A for the year it ceases doing business.
II. Any sums acquired by refund from the association by member insurers, as stated in RSA 408-F:9, VI, and which were previously offset against taxes as described in paragraph I, shall be paid by these member insurers to the state of New Hampshire in the manner required by the commissioner. The association shall notify the commissioner that refunds have been made.
III. The commissioner may adopt rules under RSA 541-A as necessary to implement and administer the provisions of this section.
2 Gambling Offenses; Gambling. Amend RSA 647:2, V(f) to read as follows:
(f) [Sports wagering as defined by RSA 287-I:1, XV] The conduct of a sports book, or participation in sports wagering, authorized by RSA 287-I.
I. Section 1 of this act shall take effect 60 days after its passage.
II. The remainder of this act shall take effect upon its passage.
26-2748
04/14/2026
HB 1194-FN- FISCAL NOTE
AS AMENDED BY THE SENATE (AMENDMENT #2026-1320s)
FISCAL IMPACT:
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| ||||
Estimated State Impact | |||||
| FY 2026 | FY 2027 | FY 2028 | FY 2029 | |
Revenue | $0 | Indeterminable | Indeterminable | Indeterminable | |
Revenue Fund(s) | General Fund | ||||
Expenditures* | $0 | $0 | $0 | $0 | |
Funding Source(s) | None | ||||
Appropriations* | $0 | $0 | $0 | $0 | |
Funding Source(s) | None | ||||
*Expenditure = Cost of bill *Appropriation = Authorized funding to cover cost of bill | |||||
METHODOLOGY:
This bill modifies how insurance companies can claim tax credits for assessments paid to the NH Life and Health Insurance Guaranty Association (NHLHIGA) in an effort to limit large, unpredictable revenue losses in years with high NHLHIGA assessments. The NHLHIGA protects policyholders if a life or health insurance company becomes insolvent. If insolvency occurs, member insurers are assessed fees to cover claims and maintain coverage. These assessments can currently be offset against the Insurance Premium Tax (IPT) under RSA 408-F:13, up to 20% per year for 5 years (totaling 100%). This bill reduces the annual credit rate from 20% to 10% per year for 10 years, reducing the immediate impact on the General Fund.
The Department is not able to predict how much in NHLHIGA assessments will be levied in the future. These assessments only occur when an insurance company becomes insolvent, which is unpredictable. This bill does not reduce state revenue on its own, but rather limits how much the General Fund revenue could be reduced by capping the tax credit rate at 10% (instead of 20%) per year for 10 years (instead of 5 years). The actual impact depends entirely on the size of the assessments levied by NHLHIGA and the amount of credits insurance companies claim against their Insurance Premium Tax.
The bill also amends a reference in criminal code RSA 647:2, V(f) to align it with sports wagering statute RSA 287-I. This change is a "housekeeping measure" to align statutes and will have no fiscal impact.
It is assumed any fiscal impact would occur after FY 2026.
AGENCIES CONTACTED:
NH Insurance Department