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Minutes for SB32 - Committee on Insurance
Short Title
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.
Minutes Content for Wed, Feb 26, 2025
The hearing on SB32 was opened by the Chair. Assistant Revisor Ma gave an overview of the bill and stood for questions. (Attachment 3)
Eric Turek, Director of Government Affairs, Kansas Department of Insurance spoke in favor of the bill and stood for questions. Essentially, this bill removes obsolete language and eliminates the portion of state tax on insurance premiums that went to the Kansas Department of Insurance for administrative purposes and, consequently, lowers the premium tax rate to 1.98%. (Attachment 4)
There were no neutrals or opponents present.
The Chair closed the hearing on SB32 .
