Connecticut 2017 Regular Session Status: Passed House

HB 7183 — AN ACT CONCERNING CAPTIVE INSURANCE COMPANIES, SHORT-TERM CARE INSURANCE, PERSONAL AND COMMERCIAL RISK INSURANCE, PREFERRED PROVIDER NETWORKS, AND MAKING MINOR AND TECHNICAL CHANGES TO CERTAIN INSURANCE-RELATED STATUTES.

Last action — SIGNED BY GOVERNOR

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  1. ✓
    Introduced
  2. ✓
    In Committee
  3. 3
    Passed House
  4. 4
    Passed Senate
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 2017 Regular Session. It reached “Passed House” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Bill Text

What changed in the latest version

8 added · 13 removed

Plain-language change summary

The amendment changes the minimum unimpaired paid-in capital and surplus requirement for sponsored captive insurance companies from five hundred thousand dollars to two hundred twenty-five thousand dollars. Additionally, it specifies that for sponsored captive insurance companies licensed as special purpose financial captive insurance companies, the requirement remains at five hundred thousand dollars. This change decreases the financial threshold for certain sponsored captive insurance companies, potentially making it easier for them to operate.

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AN ACT LOWERING THE MINIMUM UNIMPAIRED PAID-IN CAPITAL AND SURPLUS REQUIREMENT FOR SPECIAL PURPOSE FINANCIAL CAPTIVE INSURANCE COMPANIES.
AN ACT LOWERING THE MINIMUM UNIMPAIRED PAID-IN CAPITAL AND SURPLUS REQUIREMENT FOR SPONSORED CAPTIVE INSURANCE COMPANIES.
General Assembly   Raised Bill No.
General Assembly   Substitute Bill No.
7183 January Session, 2017   LCO No.
7183 January Session, 2017   *_____HB07183INS___031617____* AN ACT LOWERING THE MINIMUM UNIMPAIRED PAID-IN CAPITAL AND SURPLUS REQUIREMENT FOR SPONSORED CAPTIVE INSURANCE COMPANIES.
3192   *03192_______INS* Referred to Committee on INSURANCE AND REAL ESTATE   Introduced by:
  (INS)   AN ACT LOWERING THE MINIMUM UNIMPAIRED PAID-IN CAPITAL AND SURPLUS REQUIREMENT FOR SPECIAL PURPOSE FINANCIAL CAPTIVE INSURANCE COMPANIES.
(E) In the case of a sponsored captive insurance company, not less than five hundred thousand dollars;
(E) In the case of a sponsored captive insurance company, not less than [five hundred thousand] two hundred twenty-five thousand dollars;
and (G) In the case of a sponsored captive insurance company licensed as a special purpose financial captive insurance company, not less than [five hundred thousand] two hundred twenty-five thousand dollars.
and (G) In the case of a sponsored captive insurance company licensed as a special purpose financial captive insurance company, not less than five hundred thousand dollars.
Section 1 July 1, 2017 38a-91dd(a)(1) Statement of Purpose:
Section 1 July 1, 2017 38a-91dd(a)(1) INS Joint Favorable Subst.
To reduce the minimum unimpaired paid-in capital and surplus requirement for a special purpose financial captive insurance company from not less than five hundred thousand dollars to not less than two hundred twenty-five thousand dollars.
[Proposed deletions are enclosed in brackets.
Proposed additions are indicated by underline, except that when the entire text of a bill or resolution or a section of a bill or resolution is new, it is not underlined.]
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Action History

  1. SIGNED BY GOVERNOR

  2. TRANSMITTED BY SECRETARY OF THE STATE TO GOVERNOR

  3. TRANSMITTED TO SECRETARY OF THE STATE

  4. PUBLIC ACT 17-198

  5. ON CONSENT CALENDAR /IN CONCURRENCE

  6. SEN. PASSED, HO. AMEND. SCH. A

  7. SEN. ADOPTED HO. AMEND. SCH. A

  8. FILE NO. 815

  9. SENATE CALENDAR NUMBER 558

  10. FAV. RPT., TAB. FOR CAL., SEN.

  11. IMMEDIATE TRANSMITTAL TO THE SENATE

  12. HOUSE PASSED, HOUSE AMEND. SCH. A

  13. HOUSE REJECTED HOUSE AMEND. SCH. B

  14. HOUSE ADOPTED HOUSE AMEND. SCH. A

  15. FILE NO. 293

  16. HOUSE CALENDAR NUMBER 223

  17. FAV. RPT., TABLED FOR HOUSE CALENDER

  18. RPTD. OUT OF LCO

  19. REFERRED TO Office of Legislative Research AND Office of Fiscal Analysis 03/28/17

  20. FILED WITH LCO

  21. Joint Favorable Substitute

  22. PUBLIC HEARING 0307

  23. REF. TO JOINT COMM. ON Insurance and Real Estate

Sponsors

  • Insurance and Real Estate Committee · Primary

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 186 not signed on

Sponsors (1)

  • Insurance and Real Estate Committee

Co-sponsors (0)

None.

Not signed on (186)

186 members have not signed on to this bill.

Show all 186 →

"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.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Votes

Senate Roll Call Vote 442 ADOPT

Passed 36 Yea · 0 Nay
Party YeaNayPresentNot Voting
Democratic 8000
Unaffiliated 22000
Republican 6000
Total 36000
% of votes cast 100%0%0%0%
How each member voted (36)
Member Party Vote
PAUL M. FORMICA — Yea
TIM LARSON — Yea
KEVIN KELLY — Yea
STEVE CASSANO — Yea
MARILYN MOORE — Yea
BETH BYE — Yea
EDWIN A. GOMES — Yea
TERRY B. GERRATANA — Yea
MICHAEL A. MCLACHLAN — Yea
KEVIN D. WITKOS — Yea
TONI BOUCHER — Yea
PAUL DOYLE — Yea
CARLO LEONE — Yea
CRAIG MINER — Yea
LEN SUZIO — Yea
GAYLE SLOSSBERG — Yea
ART LINARES — Yea
JOE MARKLEY — Yea
LEONARD FASANO — Yea
GEORGE LOGAN — Yea
ANTHONY GUGLIELMO — Yea
L. SCOTT FRANTZ — Yea
Bob Duff Democratic Yea
Catherine A. Osten Democratic Yea
Douglas McCrory Democratic Yea
Gary A. Winfield Democratic Yea
Joan V. Hartley Democratic Yea
John W. Fonfara Democratic Yea
Mae Flexer Democratic Yea
Martin M. Looney Democratic Yea
Eric C. Berthel Republican Yea
Heather S. Somers Republican Yea
Henri Martin Republican Yea
John A. Kissel Republican Yea
Kathy Kennedy Republican Yea
Tony Hwang Republican Yea

Official roll call →

Subjects

finance health-insurance
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

Who sponsors HB 7183?
HB 7183 is sponsored by Insurance and Real Estate Committee.
What is the current status of HB 7183?
This bill died with 2017 Regular Session. It reached “Passed House” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track HB 7183?
Track HB 7183 free on One Click Politics — get push/email alerts when it moves.

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Last checked for changes 3 months ago · updated continuously

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