Committee moves Senate Bill 32 to consent calendar to cut insurer premium tax to 1.98%

The Senate Financial Institutions and Insurance Committee voted to advance Senate Bill 32 to the consent calendar after a staff briefing on Feb. 6. The bill would reduce the insurance company premium tax rate from 2% to 1.98% and would discontinue a remittance or credit of 1% of taxes that the department currently sends to the Insurance Department Service Regulation Fund, according to the committee briefing.

The committee heard a brief presentation from Eileen, committee staff member, who summarized the bill: “Senate Bill 32 is the bill that would reduce the insurance company premium tax rate from 2% to 1.98% And it would also discontinue the remittance that the department makes of the 1% of taxes received, and would send, discontinues that credit to the insurance department service regulation fund.”

Senator Warren moved that the committee “pass out Senate Bill 32 favorably for passage and because it's of a non controversial nature put it on the consent calendar.” Senator Francisco seconded the motion. The committee approved the motion by voice vote; no roll‑call or recorded tally was given in the hearing record.

Committee members did not register opposition during the brief work session recorded in the transcript. The chair indicated the bill would move forward on the consent agenda. No additional debate or amendments were recorded in the committee transcript for Senate Bill 32.

The committee’s action sends the bill forward for further consideration under the legislature’s consent calendar procedures; the transcript did not specify subsequent floor action timing or fiscal impacts.