Arizona House Leader Wants Another Cut on Insurance Company Taxes

January 29, 2016

An Arizona House panel has voted to advance a bill accelerating phased-in insurance company tax cuts included in a law passed last year.

House Bill 2002 is sponsored by House Republican Majority Whip David Livingston. He also sponsored the bill signed into law by Gov. Doug Ducey last year.

That tax cut will drop what insurance companies pay this year by $1.3 million with the amount rising each year until it hits more than $35 million in 2026.

Livingston now wants the time it takes for the full tax cut to go into effect cut in half.

taxesHB 2002 was approved by the House Insurance Committee Wednesday on a 5-2 vote.

Insurance companies currently pay 2 percent of the premiums they charge for property, casualty and life polices in taxes.

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Latest Comments

  • January 29, 2016 at 1:52 pm
    HMMMM says:
    Pro business is a GOOD thing. To generate increased taxes, you have to have this economy recover from recession. To do that, you allow tax breaks to encouraged expansion and h... read more
  • January 29, 2016 at 1:46 pm
    Hmmmmm says:
    Wasn't Arizona just in the papers as having the lowest per student education budget? If they cut the 2% taxes on premiums (which is about normal for the rest of the country),... read more
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