S0894Introduced in the Senate
Restrictions on Employer-owned Life Insurance Policies
Introduced by Jonathan Martin, District 33
What does this bill do?
Plain-English breakdown
Writing a plain-English summary of this bill… this can take a few seconds the first time.
Official description
Authorizing employer-owned life insurance policies covering certain key persons of business entities, organizations, companies, and corporations under specified circumstances; providing that premiums, loan interests, and expenses related to employer-owned life insurance are not tax deductible; specifying that insurers that violate certain provisions are subject to a fine of up to $1 million per violation and may have its authority to transact insurance suspended or revoked, etc.
Where it stands
Died in Banking and Insurance
March 13, 2026
How did lawmakers vote?
No recorded vote is available for this bill yet.
Bill history
Filed
Referred to Banking and Insurance; Appropriations Committee on Agriculture, Environment, and General Government; Fiscal Policy
Introduced
Died in Banking and Insurance
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