SB 0471 Prohibits insurance companies' examination fee deductions from exceeding annual tax liability
LR Number:1939S.01I Fiscal Note:1939-01
Committee:Ways and Means
Last Action:02/20/01 - Voted Do Pass S Ways & Means Committee Journal page:
Effective Date:August 28, 2001
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Current Bill Summary

SB 471 - This act, for all tax years beginning on or after January 1, 2003, prohibits refunding any amount deducted for examination fees which exceeds an insurance company's or association's premium tax liability. The act does allow such amounts to be carried forward until the deduction is claimed in full.

Similar provisions are contained in HCS/SS/SB 193 (2001).