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

SF 2397: Relating to the taxation of captive companies, and including effective date provisions

Died when the session ended · The General Assembly adjourned on April 19, 2024. Bills that didn’t pass both chambers died.

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 written 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 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 22, 2024Filed in the Senate
  2. February 22, 2024Approved by the Senate committee
  3. March 4, 2024Cost estimate (fiscal note) posted
  4. April 9, 2024Withdrawn

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/SF2397