Requires homeowner’s insurance providers to provide two months’ notice before increasing any policy more that 20%. Also caps rate increases for policy holders that are 65 years of age or older and meet certain income limits.
Effective July 1, 2025, provides that, the profit margin of any electric distribution company or gas distribution company, would not exceed 4%, in any calendar year and defines a "profit margin" as the return on equity that is allowed by the commission.
Increases the state earned-income credit as of January 1, 2026 to seventeen percent (17%) of the federal earned-income credit, not to exceed the amount of state income tax.
Removes the exemption from the state hotel tax for residences rented in their entirety on a hosting platform on or after January 1, 2026, for a period of thirty (30) nights or less.