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Bill > HB1189
MD HB1189
MD HB1189Property and Casualty Insurance - Distribution of Premium Tax Proceeds to State Disaster Recovery Fund
summary
Introduced
02/11/2026
02/11/2026
In Committee
02/11/2026
02/11/2026
Crossed Over
Passed
Dead
Introduced Session
2026 Regular Session
Bill Summary
Requiring that $5,000,000 of property and casualty insurance premium tax proceeds be distributed, beginning July 1, 2026, annually to the State Disaster Recovery Fund.
AI Summary
This bill mandates that starting July 1, 2026, and annually thereafter, $5,000,000 from the taxes collected on property and casualty insurance companies will be specifically allocated to the State Disaster Recovery Fund, which is a fund established to help with recovery efforts after disasters. This provision overrides any other existing laws that might dictate how these tax proceeds are distributed, ensuring a dedicated stream of funding for disaster relief.
Committee Categories
Justice
Sponsors (1)
Last Action
House Judiciary Hearing (13:00:00 3/5/2026 ) (on 03/05/2026)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://mgaleg.maryland.gov/mgawebsite/Legislation/Details/HB1189?ys=2026RS |
| BillText | https://mgaleg.maryland.gov/2026RS/bills/hb/hb1189f.pdf |
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