LEGISLATIVE SERVICES AGENCY
OFFICE OF FISCAL AND MANAGEMENT ANALYSIS
200 W. Washington St., Suite 301
Indianapolis, IN 46204
(317) 233-0696
iga.in.gov
FISCAL IMPACT STATEMENT
LS 6664 NOTE PREPARED: Dec 23, 2021
BILL NUMBER: SB 137 BILL AMENDED:
SUBJECT: Group Coverage for Religious Not-for-Profits.
FIRST AUTHOR: Sen. Raatz BILL STATUS: As Introduced
FIRST SPONSOR:
FUNDS AFFECTED:XGENERAL IMPACT: State
DEDICATED
FEDERAL
Summary of Legislation: The bill allows an authorized property and casualty insurance company to provide
group property and casualty insurance to a religious not-for-profit association consisting of at least 10
religious not-for-profit organizations that have a relationship to one another in a common denomination,
association, affiliation, or fellowship.
Effective Date: July 1, 2022.
Explanation of State Expenditures:
Explanation of State Revenues: Group policies for religious not-for-profit associations may allow for
discounts or otherwise reduce the premium for the associations. If premiums are lower, insurance premium
tax revenue to the state General Fund could decrease.
Domestic insurers have the option to pay taxes on insurance premiums written in the state or to pay the AGI
tax. Foreign insurers are required to pay taxes on premiums written in the state, and some foreign insurers
are assessed additional retaliatory taxes. In these cases, the minimum tax rate would be 1.3% of written
premiums. Revenue received from the AGI and insurance premium tax is deposited in the General Fund.
Explanation of Local Expenditures:
Explanation of Local Revenues:
State Agencies Affected:
SB 137 1 Local Agencies Affected:
Information Sources:
Fiscal Analyst: Karen Rossen, 317-234-2106.
SB 137 2