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
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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
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HB 261, Original Filed Version (Current Bill Version) Posted 10/27/2025 at 11:43 AM
Bill Text: PDF Analyses: None Citations - Statutes (1)
Citation Catchline Location in Bill Location In Bill Help 627.4635 Page 2 (pdf)