Maryland HB1228 exempts nonprofit hospitals and health care systems from the State insurance premium receipts tax on captive insurance.
Maryland HB1228 amends the State insurance premium receipts tax to exempt premiums on lawfully procured captive insurance by nonprofit hospitals and health care systems. The bill also prohibits the Maryland Insurance Administration from charging certain taxes and fees to unauthorized insurers and insureds before the effective date of the Act. The changes take effect July 1, 2026.
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