1578 AMH KIRB CLOD 093

HB 1578 - H AMD 767

By Representative Kirby

ADOPTED 02/16/2016

On page 1, at the beginning of line 6, insert "(1)"

    On page 1, line 14, after "48.18.170." insert "A policy premium reduced by such a credit will be taxed on the full cost of the premium before application of the customer satisfaction credit.

    (2) This section applies only to personal insurance as defined in RCW 48.18.545(1)(g)."

EFFECT:   (1) Provides that the premium tax applies to the full premium in effect before any reduction that may be credited to the policyholder as a benefit.

(2) Limits the authorization for contractual benefits based on customer satisfaction to types of insurance meeting the statutory definition of "personal insurance."

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