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

SF 549: Relating to captive insurance companies, and including applicability provisions

Signed into law

What it does

This bill is related to captive insurance companies. “Captive company” is defined in the bill as any pure captive insurance company, association captive insurance company, protected cell captive insurance company, special purpose captive insurance company, or industrial insured captive insurance company formed or authorized under the bill. The bill requires each captive company to pay on or before March of each year a tax on the direct premiums collected or contracted for on policies or contracts of insurance written by the captive company during the immediately preceding calendar year, after making deductions from the direct premiums via methodology detailed in the bill to determine the appropriate tax that is due.

Sponsors

Ways and Means (successor To Sf 424) committee

Cost

Can’t be estimated

The introduction of captive insurance companies to the State and the tax on premiums of captive insurance will increase General Fund revenue; however, the amount cannot be determined. The Bill also reduces the applicable percent for the net taxable premiums, w…

House subcommittee · named March 28, 2023

  • Rep. Shannon Lundgren (R) · shannon.lundgren@legis.iowa.gov
  • Rep. Ken Croken (D) · ken.croken@legis.iowa.gov
  • Rep. Phil Thompson (R)

Lobbying · 11 for, 0 against

For: American Property Casualty Insurance Association (APCIA); Delta Dental of Iowa; Federation of Iowa Insurers; Grinnell Mutual Reinsurance Company; Iowa Association of Business and Industry (ABI); Iowa Insurance Associates; Iowa Insurance Institute; Iowa Taxpayers Association; Mutual Insurance Association of Iowa; Nationwide Mutual Ins. Co.; Wellmark, Inc.

In plain words

  1. March 9, 2023Filed in the Senate
  2. March 9, 2023Approved by the Senate committee
  3. March 14, 2023Passed the Senate, 47–0
  4. March 14, 2023Arrived in the House
  5. March 21, 2023Cost estimate (fiscal note) posted
  6. March 28, 2023House subcommittee named: Lundgren, Croken, Thompson and P
  7. April 4, 2023Subcommittee recommended passing it
  8. April 10, 2023Approved by the House committee
  9. April 13, 2023Passed the House, 99–0
  10. April 24, 2023Cost estimate (fiscal note) posted
  11. April 24, 2023Passed the Senate, 49–0
  12. May 11, 2023Sent to the Governor
  13. May 17, 2023Cost estimate (fiscal note) posted
  14. June 1, 2023Signed into law

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/SF549