On Mar. 19, VA LEG passed bill regarding surplus line insurance taxes.
VA LEG passed bill HB 1682/SB 1269 re taxes for surplus line brokers and licensees.
Amends and reenacts VA LEG 38.2-4809 Licensees to pay license taxes on insurers.
Bill Provisions
Provided that any surplus lines broker or any person required to be licensed as one shall not be subject to the annual taxes, license taxes, or penalties under current law.
For any policy of insurance procured during the preceding calendar year on behalf of a commuter rail system jointly operated by the Northern VA transportation commission.
And Potomac and Rappahannock transportation district beginning in year 2025.
Legislative History
On Jan. 22, 2025, bill introduced in House; on Jan. 24, 2025, bill passed the House.
On Jan. 27, 2025, bill introduced in Senate; on Feb. 12, 2025, bill passed the Senate.
On Mar. 19, 2025, governor signed bill into law, assigned Chapter 124 (Chapter 136).
Effectiveness
Bill provisions become effective on Jul. 1, 2025.
Regulators
VA LEG
Entity Types
Ins
Reference
Ch. 124, 136, Bill HB1682, SB 1269, 3/19/2025; Citation: VA LEG 38.2-4809;
