HI SB2471

Levies a tax of two-thirds of one percent on gross premiums from qualified health and dental plans sold by insurers in Hawaii, effective July 1, 2014.

Establishes a new Hawaii Health Insurance Exchange Tax chapter to fund the Hawaii health connector, with taxes deposited into a dedicated fund and distributed monthly to the exchange.

Exempts Medicare supplement policies, Medicaid enrollees, and the Hawaii employer-union health benefits trust fund from the tax.

Caps annual appropriations to the Hawaii health connector at $15,000,000 per calendar year.

Grants the director of taxation authority to administer and enforce the tax, including examination of records, assessment of deficiencies, and collection procedures similar to income tax administration.