Notice of Introduction for Senate Bill 5315
Office of the Governor / Office of Financial Management sent this bulletin at 02/02/2021 05:55 PM PST
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SSB 5315, titled AN ACT Relating to captive insurance, has been introduced in the Senate. The Office of Financial Management has identified this bill as requiring a ten-year projection of increased cost to the taxpayers or affected fee payers.
Ten-year projection:
|
Fiscal |
Captive Insurer registration fee |
Captive Insurer registration renewal fee |
Insurance Premium tax |
Total |
|
|
|
|||||
|
2022 |
$ 127,500 |
$0 |
$ 31,740,000 |
31,867,500 |
|
|
2023 |
0 |
127,500 |
2,200,000 |
$ 2,327,500 |
|
|
2024 |
0 |
127,500 |
2,200,000 |
$ 2,327,500 |
|
|
2025 |
0 |
127,500 |
2,200,000 |
$ 2,327,500 |
|
|
2026 |
0 |
127,500 |
2,200,000 |
$ 2,327,500 |
|
|
2027 |
0 |
127,500 |
2,200,000 |
$ 2,327,500 |
|
|
2028 |
0 |
127,500 |
2,200,000 |
$ 2,327,500 |
|
|
2029 |
0 |
127,500 |
2,200,000 |
$ 2,327,500 |
|
|
2030 |
0 |
127,500 |
2,200,000 |
$ 2,327,500 |
|
|
2031 |
0 |
127,500 |
2,200,000 |
$ 2,327,500 |
|
|
|
|||||
|
Total: |
$ 127,500 |
$ 1,147,500 |
$ 51,540,000 |
$52,815,000 |
|
Ten-year projection prepared in consultation with the following agencies:
Office of Insurance Commissioner
The substitute bill was proposed by:
Senate Committee on Financial Institutions, Economic Development & Trade
The original bill sponsors and contact information are:
Senator Mark Mullet, Prime Sponsor
Democrat
(360) 786-7608
mark.mullet@leg.wa.gov
Senator Perry Dozier
Republican
(360) 786-7630
Perry.Dozier@leg.wa.gov
Legislative Bill Information Website:
http://apps.leg.wa.gov/billinfo/
Initiative 960 Website: http://www.ofm.wa.gov/tax/default.asp