Loading chat...

MD SB690

Bill

Official Source

Status

Introduced

2/6/2026

Primary Sponsor

Mike McKay

Click for details

Origin

Senate

2026 Regular Session

AI Summary

  • $5,000,000 annually from the premium tax on property and casualty insurers must be distributed to the State Disaster Recovery Fund
  • Distributions begin July 1, 2026
  • Creates new Section 6–103.3 in the Maryland Insurance Article
  • Overrides existing distribution requirements under § 2–114 of the Insurance Article to redirect these funds

Legislative Description

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

Insurance

Last Action

Hearing 3/04 at 1:00 p.m.

2/13/2026

Committee Referrals

Budget and Taxation2/6/2026

Full Bill Text

No bill text available