Arkansas legislation · 95th General Assembly (2025 Regular)
Arkansas HB1665: TO REPEAL THE CREDIT ALLOWED AGAINST THE INSURANCE PREMIUM TAX FOR ACCIDENT AND HEALTH COMPREHENSIVE HOSPITAL AND MEDICAL COVERAGE BASED ON THE SALARY AND WAGES OF THE EMPLOYEES OF THE INSURER
Status: Failed, May 5, 2025
What the bill says
An act to be entitled an act to amend the law concerning the insurance premium tax; to repeal the credit allowed against the insurance premium tax for accident and health comprehensive hospital and medical coverage based on the salary and wages of the employees of the insurer; and for other purposes. subtitle to repeal the credit allowed against the insurance premium tax for accident and health comprehensive hospital and medical coverage based on the salary and wages of the employees of the insurer.
From the introduced text:
An Act To Be Entitled AN ACT TO AMEND THE LAW CONCERNING THE INSURANCE PREMIUM TAX; TO REPEAL THE CREDIT ALLOWED AGAINST THE INSURANCE PREMIUM TAX FOR ACCIDENT AND HEALTH COMPREHENSIVE HOSPITAL AND MEDICAL COVERAGE BASED ON THE SALARY AND WAGES OF THE EMPLOYEES OF THE INSURER; AND FOR OTHER PURPOSES. Subtitle TO REPEAL THE CREDIT ALLOWED AGAINST THE INSURANCE PREMIUM TAX FOR ACCIDENT AND HEALTH COMPREHENSIVE HOSPITAL AND MEDICAL COVERAGE BASED ON THE SALARY AND WAGES OF THE EMPLOYEES OF THE INSURER. BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF ARKANSAS: SECTION 1. Arkansas Code § 26-57-604(a)(1)(B), concerning the credit allowed against the premium tax based on the salary and wages of the employees of the insurer, is amended to add an additional subdivision to read as follows: (iv) The credit shall not be applied as an offset against the premium tax on collections reported as individual or group comprehensive medical or hospital coverage. SECTION 2. Arkansas Code § 26-57-604(a)(2)(A) and (B), concerning the credit allowed against the premium tax based on the salary and wages of the employees of the insurer, are amended to read as follows: *JLL264* 04-02-2025 10:38:49 JLL264 As Engrossed: H3/17/25 H4/2/25 HB1665 (2)(A) The offset shall not reduce the accident and health premium tax due by more than the following amounts: …