DE HB237

Establishes a 2% premium tax rate on the first $100,000 of net premiums for trust-owned life insurance policies covering individuals that participate in private placement under federal securities laws.

Sets a 0.0% premium tax rate on net premiums exceeding $100,000 for the same trust-owned private placement life insurance policies.

Makes the premium tax imposed by this provision the only tax imposed on trust-owned life insurance policies covering individuals that participate in private placement under federal securities laws.

Clarifies that trust-owned life insurance policies participating in private placement are not subject to the graduated tax rates otherwise applicable to trust-owned and employer-owned life insurance policies.