CERTIFICATION OF ENROLLMENT

                   SUBSTITUTE HOUSE BILL 1995

                   Chapter 304, Laws of 1995

                        54th Legislature

                      1995 Regular Session

           HEALTH INSURANCE COVERAGE ACCESS ACT‑-TAX

                   EXEMPTION FOR PREPAYMENTS

                    EFFECTIVE DATE:  5/9/95

Passed by the House April 21, 1995   Yeas 96   Nays 0 CLYDE BALLARD Speaker of the       House of Representatives Passed by the Senate April 10, 1995   Yeas 47   Nays 0

CERTIFICATE I, Timothy A. Martin, Chief Clerk of the House of Representatives of the State of Washington, do hereby certify that the attached is SUBSTITUTE HOUSE BILL 1995 as passed by the House of Representatives and the Senate on the dates hereon set forth.

JOEL PRITCHARD President of the Senate

TIMOTHY A. MARTIN                           Chief Clerk

Approved May 9, 1995 Place Style On Codes above, and Style Off Codes below.

FILED                         May 9, 1995 - 4:16 p.m.

MIKE LOWRY Governor of the State of Washington

Secretary of State                   State of Washington

          _______________________________________________

                    SUBSTITUTE HOUSE BILL 1995

          _______________________________________________

                     AS AMENDED BY THE SENATE

             Passed Legislature - 1995 Regular Session

State of Washington      54th Legislature     1995 Regular Session

By House Committee on Health Care (originally sponsored by Representatives Mielke, Morris and Dyer)

Read first time 03/01/95.

Providing an exemption and an offset for insurance premium and prepayment obligations for the high risk pool.

    AN ACT Relating to provision of a tax exemption and offset for premiums and prepayments for policies under the health insurance coverage access act; amending RCW 48.14.022; and declaring an emergency.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:

    Sec. 1.  RCW 48.14.022 and 1987 c 431 s 23 are each amended to read as follows:

    (1) The taxes imposed in RCW 48.14.020 and 48.14.0201 do not apply to premiums and prepayments collected or received for policies of insurance issued under RCW 48.41.010 through 48.41.210.

    (2) In computing tax due under RCW 48.14.020 and 48.14.0201, there may be deducted from taxable premiums and prepayments the amount of any assessment against the taxpayer under RCW 48.41.010 through 48.41.210.  Any portion of the deduction allowed in this section which cannot be deducted in a tax year without reducing taxable premiums below zero may be carried forward and deducted in successive years until the deduction is exhausted.

NEW SECTION. Sec. 2.  This act is necessary for the immediate preservation of the public peace, health, or safety, or support of the state government and its existing public institutions, and shall take effect immediately.

    Passed the House April 21, 1995.

    Passed the Senate April 10, 1995.

Approved by the Governor May 9, 1995.

    Filed in Office of Secretary of State May 9, 1995.