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MD HB1189

Bill

Official Source

Status

Introduced

2/11/2026

Primary Sponsor

Jim Hinebaugh

Click for details

Origin

House of Delegates

2026 Regular Session

AI Summary

  • $5,000,000 annually from the tax on property and casualty insurers must be distributed to the State Disaster Recovery Fund beginning July 1, 2026
  • Creates new Section 6–103.3 in the Maryland Insurance Article to establish this dedicated funding stream
  • Overrides the existing general distribution provision (§ 2–114) to redirect this portion of premium tax revenue
  • Effective date is July 1, 2026

Legislative Description

Property and Casualty Insurance - Distribution of Premium Tax Proceeds to State Disaster Recovery Fund

Insurance

Last Action

Hearing 3/05 at 1:00 p.m.

2/16/2026

Committee Referrals

Judiciary2/11/2026

Full Bill Text

No bill text available