TO REPEAL THE CREDIT ALLOWED AGAINST THE INSURANCE PREMIUM TAX FOR ACCIDENT AND HEALTH COMPREHENSIVE HOSPITAL AND MEDICAL COVERAGE BASED ON THE SALARY AND WAGES OF THE EMPLOYEES OF THE INSURER.
HB 1665 modifies the insurance premium tax credit available to accident and health insurers based on employee salaries and wages. The bill prohibits insurers from using this credit as an offset against premium taxes specifically for individual or group comprehensive hospital and medical coverage. It also adjusts the maximum percentage by which the credit can reduce the premium tax, lowering it to 50% for tax years beginning on or after January 1, 2023. Additionally, the bill maintains an existing annual cap of $18 million on the total credit an insurer can receive. This legislation directly affects insurance companies that currently utilize this tax credit.
Bill status
died
1 of 4 stages cleared
Introduction
Mar 2025
Committee Review
Floor Vote
Governor
Introduced Mar 4, 2025
Last action May 5, 2025
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
9
Key actions
0
Committee
0
Amendments
2
Apr 2, 2025
Introduced
Amendment No. 2 read and adopted and the bill ordered engrossed.
lower
Mar 17, 2025
Introduced
Amendment No. 1 read and adopted and the bill ordered engrossed.
lower
Mar 4, 2025
Introduced
Filed
lower
1 primary · 0 co-sponsors
Sponsors
Role
Legislator
Party
State
District
P
Jeff Wardlaw
RRepublican
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