MD SB890

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 on unauthorized insurers

Extends the exemption to premiums paid by a nonprofit health care system's parent entity, subsidiary entities, and constituent health care providers

Prohibits the Maryland Insurance Administration from collecting any premium receipts tax that would have been owed before the Act's effective date by newly exempt entities

Waives all fees, penalties, and interest that accrued for failure to pay the premium receipts tax before the effective date for qualifying nonprofit hospitals and health care systems

Takes effect July 1, 2026