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SB 894: Restrictions on Employer-owned Life Insurance Policies

GENERAL BILL by Martin

Restrictions on Employer-owned Life Insurance Policies; Authorizing employer-owned life insurance policies covering certain key persons of business entities, organizations, companies, and corporations under specified circumstances; providing that premiums, loan interests, and expenses related to employer-owned life insurance are not tax deductible; specifying that insurers that violate certain provisions are subject to a fine of up to $1 million per violation and may have its authority to transact insurance suspended or revoked, etc.

Effective Date: 7/1/2026
Last Action: 12/12/2025 Senate - Filed
Bill Text: Web Page | PDF



Bill History

Date Chamber Action
12/12/2025 Senate • Filed