FN-ARGAUQ7-3
Page 1
FISCAL NOTE
House Bill 477
Committee: Banking and Insurance Sponsor: Representative David Faulkner
Analyst: Jennifer Farish Date: 04/15/2025
House Bill 477 as passed the House of Representatives would authorize certain nonprofit
agricultural organizations to offer health benefits to its members and their families. This bill
would levy a 1.3% premium tax on premiums collected on these benefits and would provide for
these revenues to be deposited to the State General Fund, less an administrative fee of up to 2%
of the collections to be credited to the Insurance Department Fund.
Also, this bill would increase the administrative obligations of the Department of Insurance to
administer the provisions of this bill.