INDIANAPOLIS (April 14, 2008) — At a special signing ceremony being held today, Kentucky Gov. Steve Beshear is signing HB 524, legislation that will streamline the administration of the state’s municipal premium tax, according to the National Association of Mutual Insurance Companies (NAMIC).
“NAMIC applauds Governor Beshear and the Kentucky Legislature for adopting this crucial piece of legislation,” said Joe Thesing, NAMIC director of state affairs. “This bill represents the cooperative efforts of Representative Steve Riggs, the sponsor of the bill, the Kentucky League of Cities, the Kentucky Association of Counties, and the insurance industry.”
The bill was passed and sent to the governor earlier this month.
“HB 524 will help resolve many problems faced by local governments, insurance companies, and taxpayers with the municipal premium tax,” said Mark Treesh, executive director of the Insurance Institute of Kentucky, one of several insurance industry entities involved in crafting the bill.
The bill’s provisions include:
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Posted: Monday, April 14, 2008 12:00:00 AM. Modified: Tuesday, April 15, 2008 10:31:01 AM.
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