Maryland legislation · 2026 Regular Session
Maryland SB890: Insurance - Captive Insurers - Premium Receipts Tax Study
Status: Signed into law, May 26, 2026
Requiring the Maryland Insurance Administration to conduct a study on the use, regulation, and taxation of captive insurance companies by entities in the State and report its findings and recommendations to the Governor and the Senate Finance Committee and the House Health Committee by January 1, 2027.
What the bill says
An act concerning Insurance - Premium Receipts Tax - Exemption for Captive Insurance Procured by Nonprofit Hospitals and Health Care Systems Captive Insurers - Premium Receipts Tax Moratorium and Study FOR the purpose of exempting premiums suspending for a certain period of time the charge and collection of a certain premium receipts tax and related fees, penalties, and interest on lawfully procured captive insurance by nonprofit hospitals and health care systems entities located in the State from the State insurance premium receipts tax imposed on unauthorized insurers and persons insured by…
From the enrolled text, June 3, 2026:
AN ACT concerning Insurance - Premium Receipts Tax - Exemption for Captive Insurance Procured by Nonprofit Hospitals and Health Care Systems Captive Insurers - Premium Receipts Tax Moratorium and Study FOR the purpose of exempting premiums suspending for a certain period of time the charge and collection of a certain premium receipts tax and related fees, penalties, and interest on lawfully procured captive insurance by nonprofit hospitals and health care systems entities located in the State from the State insurance premium receipts tax imposed on unauthorized insurers and persons insured by unauthorized insurers; prohibiting the Maryland Insurance Administration from charging or collecting a certain tax otherwise payable before the effective date of this Act and certain fees, penalties, or interest accrued for failure to pay a certain tax before the effective date of this Act from certain unauthorized insurers and certain insureds; requiring the Maryland Insurance Administration to conduct a study on the use, regulation, and taxation of captive insurance companies by entities in the State; and generally relating to the State insurance premium receipts tax captive insurers. BY repealing and reenacting, with amendments, Article - Insurance Section 4-209 and 4-211 Annotated Code of Maryland (2017 Replacement Volume and 2025 Supplement) SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF MARYLAND, That the Laws of Maryland read as follows: …