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MS HB868
MS HB868Insurance premium tax; exempt insurance carriers furnishing services to governmental entities.
summary
Introduced
01/16/2026
01/16/2026
In Committee
01/16/2026
01/16/2026
Crossed Over
Passed
Dead
Introduced Session
2026 Regular Session
Bill Summary
An Act To Amend Section 27-15-103, Mississippi Code Of 1972, To Exclude Premiums On Insurance Coverage For Governmental Entities From Privilege Taxes Levied On Foreign Insurance Carriers; To Amend Section 27-15-109, Mississippi Code Of 1972, To Exclude Premiums On Insurance Coverage For Governmental Entities From Privilege Taxes Levied On Domestic Insurance Carriers; And For Related Purposes.
AI Summary
This bill exempts insurance carriers that provide coverage to governmental entities in Mississippi from paying the state's insurance premium tax, which is a privilege tax levied on insurance companies. This exemption applies to both foreign insurance carriers (those not based in Mississippi) and domestic insurance carriers (those based in Mississippi). The bill clarifies that "governmental entity" includes any agency, department, institution, or political subdivision of the state. This change aims to reduce the tax burden on insurance policies covering state and local government operations.
Committee Categories
Business and Industry
Sponsors (2)
Last Action
DR - TSDP: IN To WM (on 01/22/2026)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://billstatus.ls.state.ms.us/2026/pdf/history/HB/HB0868.xml |
| BillText | https://billstatus.ls.state.ms.us/documents/2026/html/HB/0800-0899/HB0868IN.htm |
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