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MS HB526
Bill
Status
2/5/2013
Primary Sponsor
Herb Frierson
Click for details
AI Summary
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Amends Section 83-21-25 of the Mississippi Code to permanently exempt property risk insurance written by the Department of Finance and Administration (DFA) on behalf of the State of Mississippi from the 4% premium tax on surplus lines insurance.
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Removes the expiration date (July 1, 2013) that was previously set to automatically repeal this exemption, making the exemption permanent.
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Surplus lines insurance producers must continue to report and pay the 4% tax on all other nonadmitted insurer premiums within 30 days of January 1 and July 1 of each year.
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Takes effect July 1, 2013.
Legislative Description
Surplus lines insurance; delete repealer on exemption from premium tax on property risk written by DFA on behalf of state.
Last Action
Died In Committee
2/5/2013