l9n/ Connecticut

2020 Regular Session

Senate Bill 339

AN ACT CONCERNING THE INSURANCE DEPARTMENT'S RECOMMENDATIONS REGARDING CAPTIVE INSURANCE COMPANIES.

Did not become law. It stopped in the Senate on March 10, 2020. The 2020 session has ended.

What it does

The synopsis the General Assembly published with the bill.

To: (1) Amend certain captive insurance company definitions; (2) provide tax amnesty to an insured that establishes a branch captive insurance company in, or transfers domicile of its alien captive insurance company or foreign captive insurance company to, this state; (3) modify licensing requirements; (4) authorize the Insurance Commissioner to license foreign captive insurance companies, and issue unlicensed captive insurance companies a conditional certificate of authority; (5) reduce capitalization requirements for pure captive and branch captive insurance companies; (6) authorize the commissioner to exempt foreign branch captive insurance companies from minimum capitalization requirements; (7) authorize foreign captive insurance companies to register to do business in this state; and (8) authorize the commissioner to waive the requirement that (A) alien captive insurance companies and foreign captive insurance companies file an annual report concerning their financial condition; and (B) the commissioner periodically examine the financial condition of pure captive insurance companies.

Sponsors

Who carried the bill in each chamber, and who signed on. Each name leads to the member's page.

In the Senate

In the House of Representatives

    1 co-sponsor

    Pat Wilson Pheanious

    Its course

    February 27 to March 10, 2020, on one scale. In the top row each mark is a day something happened; taller marks are busier days.

    Each committee stop sits inside its chamber.

    Every action3 actions on 3 days

    In the SenateFeb 27 to Mar 10 · stopped12 days

    Insurance and Real Estate CommitteeFeb 27 to Mar 1012 days

    Text

    Each version as the General Assembly printed it.

    l9n doesn't hold this bill's text yet.

    What happened

    In l9n's words, one line for each step. Every action as the General Assembly published it is below.

    In the Senate Feb 27 – Mar 10

    1. Feb 27Introduced and sent to Insurance and Real Estate Committee
    2. Mar 5Heard in Insurance and Real Estate Committee
    3. Mar 10Insurance and Real Estate Committee recommended it
    All 3 actions, as published
    1. Feb 27REF. TO JOINT COMM. ONBoth houses
    2. Mar 5PUBLIC HEARINGBoth houses
    3. Mar 10Joint FavorableBoth houses