Benefits consortium; exemption and exclusions. (SB120)
Introduced By
Sen. John Watkins (R-Midlothian)
Progress
✓ |
Introduced |
✓ |
Passed Committee |
✓ |
Passed House |
✓ |
Passed Senate |
✓ |
Signed by Governor |
☐ |
Became Law |
Description
Benefits consortium; exemption and exclusions. Exempts a benefits consortium and its sponsoring organization from regulation as an insurer and from the license tax levied on insurance companies. A benefits consortium is a trust that, among other conditions, operates as a nonprofit voluntary employee beneficiary association within the meaning of 501(c)(9) of the Internal Revenue Code of 1986 and is subject to federal law and regulations applicable to multiple employer welfare arrangements. Read the Bill »
Outcome
Bill Has Passed
History
Date | Action |
---|---|
12/30/2013 | Prefiled and ordered printed; offered 01/08/14 |
12/30/2013 | Prefiled and ordered printed; offered 01/08/14 14103032D |
12/30/2013 | Referred to Committee on Commerce and Labor |
01/24/2014 | Impact statement from SCC (SB120) |
02/03/2014 | Reported from Commerce and Labor with substitute (16-Y 0-N) (see vote tally) |
02/03/2014 | Committee substitute printed 14104426D-S1 |
02/05/2014 | Constitutional reading dispensed (40-Y 0-N) |
02/06/2014 | Read second time |
02/06/2014 | Reading of substitute waived |
02/06/2014 | Committee substitute agreed to 14104426D-S1 |
02/06/2014 | Engrossed by Senate - committee substitute SB120S1 |
02/07/2014 | Read third time and passed Senate (40-Y 0-N) |
02/12/2014 | Placed on Calendar |
02/12/2014 | Read first time |
02/12/2014 | Referred to Committee on Commerce and Labor |
02/18/2014 | Reported from Commerce and Labor (20-Y 1-N) (see vote tally) |
02/20/2014 | Read second time |
02/21/2014 | Passed by for the day |
02/21/2014 | Impact statement from SCC (SB120S1) |
02/24/2014 | Read third time |
02/24/2014 | Passed House (97-Y 2-N) |
02/24/2014 | VOTE: PASSAGE (97-Y 2-N) (see vote tally) |
02/26/2014 | Enrolled |
02/26/2014 | Bill text as passed Senate and House (SB120ER) |
02/26/2014 | Signed by Speaker |
02/27/2014 | Impact statement from SCC (SB120ER) |
02/28/2014 | Signed by President |
03/24/2014 | G Approved by Governor-Chapter 296 (effective 1/1/15) |
03/24/2014 | G Acts of Assembly Chapter text (CHAP0296) |