H-3719.1
HOUSE BILL 2745
State of Washington
69th Legislature
2026 Regular Session
By Representatives Parshley and Macri
Read first time 02/28/26. Referred to Committee on Finance.
AN ACT Relating to temporarily increasing insurance premium taxes on insurers to fund health insurance premium assistance; and amending RCW 48.14.020 and 48.14.0201 .
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:
Sec. 1. RCW 48.14.020 and 2023 c 388 s 4 are each amended to read as follows:
(1)(a) Subject to other provisions of this chapter, each authorized insurer except title insurers and registered eligible captive insurers as defined in RCW 48.201.020 shall on or before the first day of March of each year pay to the state treasurer through the commissioner's office a tax on premiums. Except as provided in subsection (3) of this section, such tax shall be in the amount of (( two )) 2.75 percent of all premiums collected during calendar year 2026, and in the amount of 2.0 percent of all premiums collected during calendar year 2027 and thereafter , excluding amounts returned to or the amount of reductions in premiums allowed to holders of industrial life policies for payment of premiums directly to an office of the insurer, collected or received by the insurer under RCW 48.14.090 during the preceding calendar year other than ocean marine and foreign trade insurances, after deducting premiums paid to policyholders as returned premiums, upon risks or property resident, situated, or to be performed in this state. For tax purposes, the reporting of premiums shall be on a written basis or on a paid-for basis consistent with the basis required by the annual statement. For the purposes of this section the consideration received by an insurer for the granting of an annuity shall not be deemed to be a premium.