A bill for an act relating to the maximum value of life insurance companies’ and life insurance association...
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HF 2175 — A bill for an act relating to the maximum value of life insurance companies’ and life insurance associations’ investments in CM3 classified mezzanine loans as a percentage of such company’s or association’s legal reserve. (Formerly HSB 544.) Effective 7-1-18.
Last action — Signed by Governor.
No card. One bill, free forever — alerts when it moves.
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✓Introduced
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✓In Committee
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✓Passed House
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✓Passed Senate
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✓To Executive
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6Enacted
This bill has been enacted into law. Introduced January 31, 2018. Enacted.
Prognosis
Where this bill stands today.
Odds of enactment
HighHow often bills like it became law.
Not enough signal yet to read this bill's trajectory — we surface a likelihood only once there's real movement (stage, sponsorship, committee, or votes) to point to.
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Bill Text
What changed in the latest version
20 added · 25 removed20 line(s) added, 25 removed.
House File 2175 - IntroducedEnrolled HOUSEHouse FILEFile 2175 BYAN COMMITTEEACT ONRELATING COMMERCE (SUCCESSOR TO HSBTHE 544)MAXIMUM AVALUE BILLOF FORLIFE AnINSURANCE ActCOMPANIES’ relatingAND toLIFE theINSURANCE maximumASSOCIATIONS’ valueINVESTMENTS ofIN life insurance companies’ and life insurance associations’ investments in CM3 classifiedCLASSIFIED mezzanineMEZZANINE loansLOANS asAS aA percentagePERCENTAGE ofOF suchSUCH company’sCOMPANY’S orOR association’sASSOCIATION’S legalLEGAL reserve.RESERVE.
TLSBSection 5519HV1. (1) 87 ko/rj H.F.
2175 Section 1.
(a) The value of a company’s or association’s total investments qualified under this paragraph “h” in mezzanine real estate loans classified as CM3 in accordance with the national association of insurance commissioners’ rating methodology or an equivalent or successor rating at the time ofHouse purchaseFile shall2175, notp. exceed two three percent of the legal reserve.
EXPLANATION2 The inclusion of thispurchase explanationshall does not constituteexceed agreementtwo withthree thepercent explanation’s substance by the members of the generallegal assembly.reserve.
This______________________________ bill______________________________ relatesLINDA toUPMEYER theJACK maximumWHITVER valueSpeaker of athe lifeHouse insurancePresident company’sof andthe lifeSenate insuranceI association’shereby investmentscertify inthat CM3this classifiedbill mezzanineoriginated loansin asthe aHouse percentageand ofis suchknown company’sas orHouse association’sFile legal2175, reserve.Eighty-seventh General Assembly.
The______________________________ currentCARMINE maximumBOAL valueChief Clerk of suchthe investmentsHouse isApproved 2_______________, percent2018 of______________________________ aKIM company’sREYNOLDS orGovernor association’s legal reserve.
The bill increases the maximum value to 3 percent of such company’s or association’s legal reserve.
LSB 5519HV (1) 87 -1- ko/rj 1/1
Action History
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Signed by Governor.
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Reported correctly enrolled, signed by Speaker and President, and sent to Governor.
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Message from Senate.
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Immediate message.
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Passed Senate, ayes 49, nays 0.
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Substituted for SF 2172.
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Read first time and attached to companion SF 2172.
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Message from House.
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Immediate message.
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Passed House, ayes 98, nays none.
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Introduced, placed on calendar.
Sponsorship breakdown
Export CSV (upgrade) →0 sponsors · 0 co-sponsors · 150 not signed on
Sponsors (0)
None.
Co-sponsors (0)
None.
Not signed on (150)
150 members have not signed on to this bill.
Show all 150 →"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.
Subjects
Frequently asked questions
- What is the current status of HF 2175?
- This bill has been enacted into law. Introduced January 31, 2018. Enacted.
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Last checked for changes 2 months ago · updated continuously
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