Imposes a tax on out-of-state transfers, dividends, payments, and loans by certain accident and health insurance companies and health maintenance.

This bill amends the insurance law to impose a tax on out-of-state transfers, dividends, payments, and loans by certain accident and health insurance companies and health maintenance organizations. The tax is set at 9.631% of any dividends or other funds deriving from subscriber prepayments or premiums paid, transferred, distributed, or loaned to an entity outside the state. The tax applies to payments, transfers, distributions, and loans made to an accident and health insurance company or health maintenance organization.

Imposes a tax on out-of-state transfers, dividends, payments, and loans by certain accident and health insurance companies and health maintenance.

This bill amends the insurance law to impose a tax on out-of-state transfers, dividends, payments, and loans by certain accident and health insurance companies and health maintenance organizations. The tax is set at 9.631% of any dividends or other funds deriving from subscriber prepayments or premiums paid, transferred, distributed, or loaned to an entity outside the state. The tax applies to payments, transfers, distributions, and loans made to an accident and health insurance company or health maintenance organization.