Bill > SB2044

This bill amends existing Hawaii law to provide further exemptions for dormant captive insurance companies, which are specialized insurance companies often used by larger organizations to insure their own risks. Specifically, a captive insurance company that has officially been declared "dormant" and received a certificate of dormancy will no longer be subject to certain taxes, including those on gross premiums, and will also be exempt from the requirement that its governing body hold at least one meeting annually within the State of Hawaii. These changes are intended to reduce the administrative and financial burdens on such dormant companies, allowing them to remain inactive without incurring ongoing operational obligations. The bill is set to take effect on January 1, 3000.

Budget and Finance, Business and Industry

https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=SB&billnumber=2044&year=2026