NevadaNevada sends captive-insurer revenue to its insurance fund
Starting July 1, 2025, captive-insurance fees, assessments, and one-quarter of its tax revenue go to Nevada’s insurance fund.
What it does
Captive-insurance fees, assessments, and one-quarter of captive-insurance tax revenue go to the state insurance fund. The remaining tax revenue goes to the State General Fund.
Argument forAllowing this money to support other insurance-fund work could give state regulators more flexibility to meet changing needs.
Argument againstWithout a separate account, regulators may have less money reserved specifically for captive-insurer oversight.
More detail
The law credits captive-insurance fees, assessments, and one-quarter of captive-insurance tax revenue to the state insurance fund. These rules cover fees and assessments received under the captive-insurance chapter and taxes paid by captive insurers. The other three-quarters of captive-insurance tax revenue goes to the State General Fund. The law takes effect July 1, 2025. Money left in the captive-insurer account on that date remains in the state insurance fund and may be used for any purpose allowed for that fund.
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Where it stands
- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2025
- Jun 11Chapter 516.Latest
- Jun 10Approved by the Governor Joe Lombardo.Became Law
- Jun 5Enrolled and delivered to Governor.To Governor
- Jun 4To enrollment.Major
- Jun 3In Senate.
- Jun 2Read third time. Passed. Title approved. (Yeas: 42, Nays: None.) To Senate.Passed House
- Vote recorded Assembly (As Introduced). Result: pass.Lower
- Jun 1From committee: Do pass. Placed on Second Reading File. Read second time.Minor
- May 29Read third time. Passed. Title approved. (Yeas: 20, Nays: None, Excused: 1.) To Assembly. In Assembly. Read first time. Referred to Committee on Ways and Means. To committee.Passed Senate
- Vote recorded Senate (As Introduced). Result: pass.Upper
- May 28From committee: Do pass. Placed on Second Reading File. Read second time.Minor
- May 22From printer. To committee.
- May 21Read first time. Referred to Committee on Commerce and Labor. To printer.Introduced
Taxes & Budget