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MS SB2650

Bill

Official Source

Status

Failed

3/6/2012

Primary Sponsor

Videt Carmichael

Click for details

Origin

Senate

2012 Regular Session

AI Summary

  • Amends Mississippi Code Section 83-21-25 to exempt the 4% surplus lines insurance premium tax on property risks written by the Department of Finance and Administration on behalf of the State of Mississippi.

  • The exemption applies only to property risks procured through the Department of Finance and Administration for state coverage.

  • The exemption is temporary and automatically repeals on July 1, 2013.

  • Surplus lines insurance producers remain required to pay the 4% tax on all other nonadmitted insurer premiums under existing law.

Legislative Description

Surplus lines insurance; exempt from premium tax any property risk written by DFA on behalf of the State of Mississippi.

Last Action

Died In Committee

3/6/2012

Full Bill Text

No bill text available