Insurance; tax credits to be used by insurance companies against state insurance premium tax liability for contributing money to a nonlapsing flood disaster fund; provide
Establishes a flat rate of insurance premium tax and provides relative to certain insurance premium tax credits and exemptions (RR SEE FISC NOTE GF RV)
Reducing insurance company premium tax rates and discontinuing remittance and crediting of a portion of the premium tax to the insurance department service regulation fund.
Authorizes a state tax credit for premiums paid for flood insurance through the National Flood Insurance Program. (1/1/18) (OR -$354,800,000 GF RV See Note)