SB 690·MD·senate
Property and Casualty Insurance - Distribution of Premium Tax Proceeds to State Disaster Recovery Fund
In CommitteeFiled Feb 6, 2026
Sponsor: McKay
Latest Action
In the Senate - Hearing 3/04 at 1:00 p.m.
Mar 4, 2026
Summary
The bill directs that $5 million from the premium tax on property and casualty insurers be transferred annually to the State Disaster Recovery Fund beginning July 1 2026. It impacts insurance companies that pay the tax and adds a steady funding source for the state’s disaster recovery efforts.
AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.
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