HB 261: Restrictions on Employer-owned Life Insurance Policies
GENERAL BILL by Gossett-Seidman
Restrictions on Employer-owned Life Insurance Policies; Authorizes employer-owned life insurance policies covering key persons of business entities, organizations, companies, & corporations under certain circumstances; requires certain disclosures to key persons; prohibits employer-owned life insurance policies covering certain employees; provides that policies covering such employees are void as against public policy; requires insurer notice to OIR of employer-owned life insurance policies; requires office to maintain registry & publish annual report; provides that premiums, loan interests, & expenses related to employer-owned life insurance are not tax deductible; subjecting death benefits received by employers to corporate income tax; requires OIR to adopt certain standard forms.
Last Action: 11/4/2025 House - Now in Insurance & Banking Subcommittee
Bill Text: PDF
Bill History
| Date | Chamber | Action |
|---|---|---|
| 10/27/2025 | House |
• Filed |
| 11/4/2025 | House |
• Referred to Insurance & Banking Subcommittee • Referred to Ways & Means Committee • Referred to Commerce Committee • Now in Insurance & Banking Subcommittee |