Bill > HB1119

This bill allows the Colorado Division of Insurance to contract with third-party providers, such as the National Association of Insurance Commissioners (NAIC) and the Florida Surplus Line Services Office, to establish a secure web-based application system for insurance companies to electronically submit their premium tax, surplus lines tax, and other state-specific filings and payments. This system would simplify the filing process and reduce administrative costs for insurance companies by allowing them to submit these filings and payments for multiple states through a single platform. The bill also exempts the commissioner from the state's procurement code when contracting with these third-party providers. The provisions of the bill would apply to tax filings submitted on or after January 1, 2025.

Budget and Finance

https://leg.colorado.gov/bills/hb24-1119