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90th General Assembly · Funnel one-pager · Monday, November 9, 2026

HF 2636: Relating to the taxation of captive companies, and including effective date provisions

Signed into law

What it does

This bill relates to the calculation of the amount of reinsurance tax (tax) due from a captive company. The bill changes the amount of tax due from a captive company on the first $20 million of assumed reinsurance premiums from two-tenths of percent to two hundred thousandths of percent; the amount of tax due on the $20 million of assumed reinsurance premiums written after the first $20 million of assumed reinsurance premiums are written from one-eighth of percent to one hundred twenty-five thousandths of percent; and the amount of tax due on each dollar of assumed reinsurance premiums written after the first $40 million of assumed reinsurance premiums from percent on each dollar to forty-five thousandths of percent.

Sponsors

Ways and Means (successor To Hsb 535) (companion To Sf 2397 By Committee on Ways and Means) committee

Cost

Can’t be estimated

0 million annually. 1% reduction. 6% reduction. There are not currently any reinsurance premium taxes collected on captive insurance companies; therefore, the fiscal impact to the State cannot be determined.

Lobbying · 1 for, 0 against

For: Iowa Insurance Division

In plain words

  1. February 28, 2024Filed in the House
  2. February 29, 2024Cost estimate (fiscal note) posted
  3. March 19, 2024Passed the House, 94–0
  4. March 20, 2024Arrived in the Senate
  5. April 9, 2024Took the place of SF 2397 on the Senate floor (the same legislation)
  6. April 9, 2024Passed the Senate, 46–0
  7. April 19, 2024Sent to the Governor
  8. April 19, 2024Signed into law
  9. May 8, 2024Cost estimate (fiscal note) posted

From public records at legis.iowa.gov, compiled by Funnel (iowafunnel.com), an independent, nonpartisan site. Current as of Monday, November 9, 2026. https://iowafunnel.com/bills/90/HF2636