Plain English Breakdown
The official text states the bill provides for an effective date but does not specify what that date is.
HB1263: Insurance Fee and Tax Refund Rules
This bill changes Georgia law to allow claims for refunds of certain insurance fees and taxes if the claim is made within three years of payment.
What This Bill Does
- Amends Chapter 8 of Title 33 in the Official Code of Georgia Annotated regarding insurance fees and taxes.
- Provides a way to claim a refund for certain fees and taxes related to insurance premiums.
- Requires that these claims be made within three years of payment to the Commissioner.
Who It Names or Affects
- People or businesses who pay insurance premium fees and taxes in Georgia.
- The state agency led by the Commissioner responsible for collecting these payments.
Terms To Know
- Commissioner
- The official to whom insurance fee and tax payments are made, as referenced in the bill title.
- Premiums
- Payments for which certain fees and taxes may be refunded under this law.
Limits and Unknowns
- The official text does not list the specific types of fees or taxes that qualify for a refund.
- The effective date is mentioned as a purpose in the bill but is not provided in the source material.
- It is unclear if this rule applies to insurance policies bought before the law passes.