MD HB1228

Exempts premiums on lawfully procured captive insurance by nonprofit hospitals and nonprofit health care systems located in Maryland from the 3% state insurance premium receipts tax imposed on unauthorized insurers

Coverage extends to premiums paid by a nonprofit health care system's parent entity, any subsidiary entity, or any constituent health care provider

Prohibits the Maryland Insurance Administration from collecting any premium receipts tax that would have been owed before the effective date, as well as any associated fees, penalties, or interest for failure to pay

Amends Insurance Article Sections 4-209 and 4-211 of the Annotated Code of Maryland

Effective date: July 1, 2026