SB 1006 West Virginia Senate · 2026 Regular Session

Relating to fire and casualty insurance premium tax

SB 1006 adds a 1% tax on fire and casualty insurance premiums in West Virginia. Insurance companies pay this tax, and the revenue is allocated as follows: 10% to the Teachers Retirement System Reserve Fund, 25% to volunteer and part-volunteer fire departments via the Fire Protection Fund, and 65% to municipal police and fire pension funds. The bill requires annual reporting by municipalities and the State Treasurer to distribute funds according to these percentages. This policy directly affects insurance providers (through the tax) and the specific state funds supporting teachers, fire departments, and municipal pension systems.
Bill status in committee 1 of 4 stages cleared
Introduction
Feb 2026
Committee Review
Floor Vote
Governor
Introduced Feb 19, 2026 Last action Feb 24, 2026
Maddy AI version diff · 1 comparison

What changed between versions

Introduced Version Committee Substitute · 3 edits
MINOR
The Committee Substitute version of SB 1006 renumbers the statutory sections and slightly broadens the bill's title to explicitly mention 'certain funds' and 'certain fire companies.' The core policy regarding the 1% tax rate and the distribution percentages for pension and fire funds remains unchanged.
Scope change
The bill's scope is technically expanded by the title change to clarify that it applies to specific funds and companies, though the operational rules for those entities remain the same.
TECHNICAL

The bill's title was updated to include the phrases 'certain funds' and 'certain fire companies' for greater specificity.

Internal section numbering was reorganized (e.g., original subsection (2) became (1)), likely to align with the bill's new status as a substitute.

Minor punctuation and spacing adjustments were made throughout the text, such as adding commas to the article title.

Floor votes

How they voted

No floor votes recorded yet.
Full legislative history

Actions timeline

Total actions
6
Key actions
0
Committee
4
Feb 24, 2026
Committee
To Finance
upper
Feb 24, 2026
Committee
Committee substitute reported, but first to Finance
upper
Feb 19, 2026
Committee
To Government Organization
upper
Feb 19, 2026
Introduced
Introduced in Senate
upper
Feb 19, 2026
Committee
To Government Organization then Finance
upper
1 primary · 1 co-sponsor

Sponsors