AR HB2009

Amends Arkansas Code § 26-57-604 to clarify that authorized life, accident and health, property, and casualty insurers may apply for a credit for noncommissioned employee salaries and wages paid in connection with insurance operations.

Excludes premium tax credits on collections from individuals insured under the Health Care Independence Act of 2013, Arkansas Works Act of 2016, Arkansas Health Insurance Marketplace Act, and individual qualified health insurance plans issued through the health insurance marketplace.

Caps the offset credit for accident and health insurance premium tax at the lesser of $2,500,000 or 80% of tax due, and for life, property, and casualty insurance at the lesser of $2,500,000 or 70% of tax due.

Requires employees to be employed for at least six (6) months for their salaries or wages to qualify for the premium tax credit.

Allows insurers to claim premium tax credits for Arkansas historic rehabilitation income tax credits, with unused credits carryable forward for up to five (5) consecutive tax years.