CT SB00979

Eliminates the requirement that domestic insurance companies be subject to taxation under chapter 207 to pay assessments to the Insurance Department and Office of the Healthcare Advocate.

Changes the assessment calculation methodology from using taxes imposed under chapter 207 to using direct written insurance premiums and subscriber charges collected by insurance companies and entities.

Requires the Insurance Commissioner and Healthcare Advocate to base calculations on amounts reported to the Insurance Commissioner and National Association of Insurance Commissioners under section 38a-53, rather than on tax returns filed with the Commissioner of Revenue Services.

Removes the prior 20/80 allocation split between certain domestic entities and other insurance companies, replacing it with a single proportional allocation based on direct written premiums and subscriber charges.

Effective date: July 1, 2011 for amendments to sections 38a-47 and 38a-48.