DE HB193

Establishes a 2% premium tax rate on the first $100,000 of net premiums for private placement life insurance policies (individual, employer-owned, or trust-owned)

Sets a 0.0% premium tax rate for net premiums exceeding $100,000 on private placement life insurance policies

Removes the previous provision that grouped all employers or trusts participating in private placement under federal securities laws as a single "case" for tax purposes

Exempts from premium tax any policies covering persons who are resident or located outside Delaware if premium tax is paid to their state of residency