05RS HB18

HB18

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HB 18/LM (BR 92) - J. Vincent

     AN ACT relating to insurance premium surcharges.
     Amend KRS 91A.080 to permit the Department of Insurance to impose a penalty against an insurance company that willfully engages in a pattern of business of failing to properly collect and remit the fee or tax imposed by a city, county, charter county, consolidated local government, or urban-county government on insurance premiums; provide that the penalty shall be no greater than ten percent (10%) of the additional license fees or taxes determined to be owed to the local government; require the department to collect the penalty and remit it to the local government; provide that any agent or company that overpays any license fee or tax to a city, county, charter county, consolidated local government, or urban-county government must be refunded the amount overpaid; provide that if the local government fee or tax on insurance premiums was collected upon lives or risks which are discovered to be located outside the local government which was paid the fee or tax, the insurance company or agent who paid the tax shall be refunded the fees and taxes within 90 days of notice to the governmental entity paid.

     (Prefiled by the sponsor(s).)

     Jan 4-introduced in House
     Jan 6-to Banking and Insurance (H)
     Feb 3-posted in committee
     Feb 9-reported favorably, 1st reading, to Calendar
     Feb 10-2nd reading, to Rules; posted for passage in the Regular Orders of the Day for Friday, February 11, 2005
     Feb 14-3rd reading, passed 90-1
     Feb 15-received in Senate
     Feb 18-to Banking and Insurance (S)
     Feb 24-reported favorably, 1st reading, to Consent Calendar
     Feb 25-2nd reading, to Rules
     Feb 28-posted for passage in the Consent Orders of the Day for Tuesday, March 1, 2005
     Mar 1-3rd reading, passed 37-0; received in House
     Mar 2-enrolled, signed by each presiding officer; delivered to Governor
     Mar 8-signed by Governor (Acts ch. 31)


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