REPORT TITLE:
Insurance Premiums; Annuities


DESCRIPTION:
Removes insurance premium tax exemption for annuities.

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
                                                        
THE SENATE                              S.B. NO.           2358
TWENTIETH LEGISLATURE, 2000                                
STATE OF HAWAII                                            
                                                             
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                   A  BILL  FOR  AN  ACT

RELATING TO INSURANCE.



BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

 1      SECTION 1.  Section 431:7-201, Hawaii Revised Statutes, is
 
 2 amended by amending subsection (a) to read as follows:
 
 3      "(a)  Each authorized insurer shall file with the
 
 4 commissioner annually, on or before March 1 in each year, a
 
 5 statement signed by a duly authorized person on its behalf,
 
 6 setting forth the total business transacted, and the amount of
 
 7 gross premiums received by the insurer during the year ending on
 
 8 the preceding December 31, from all risks or property resident,
 
 9 situated, or located within this State, together with such other
 
10 information as may be required by the commissioner in order to
 
11 determine the taxability of premiums.  The term gross premiums as
 
12 used in this part shall [not] include consideration paid for
 
13 annuities."
 
14      SECTION 2.  Statutory material to be repealed is bracketed.
 
15      SECTION 3.  This Act shall take effect upon its approval.
 
16 
 
17                           INTRODUCED BY:  _______________________