2012 Regular Session
|At the request of:||(at the request of Senate Interim Committee on Business, Transportation and Economic Development)|
|Regular Sponsors:||(Presession Filed)|
|Bill Title:||Relating to captive insurance; and declaring an emergency.|
|Catchline/Summary:||Allows Director of Department of Consumer and Business Services to authorize captive insurers in this state.
Sets standards for captive insurers regarding formation, licensing, classes of insurance transacted and reporting. Exempts certain captive insurer documents from disclosure as public records. Sets tax treatment for captive insurers. Becomes operative on July 1, 2012. Increases biennial limitation on expenditures from fees, moneys or other revenues, including Miscellaneous Receipts and specified federal funds, but excluding lottery funds and other federal funds, for Department of Consumer and Business Services. Declares emergency, effective on passage.
|Fiscal Impact:||Fiscal Impact Issued|
|Revenue Impact:||Revenue Impact Issued|
|Measure Analysis:||Staff Measure Summary / Impact Statements|