The New Hampshire House of Representatives has approved and sent to the Senate legislation to reduce the state insurance premium tax from 2 percent to 1 percent.
Laura Kersey, American Insurance Association assistant vice president, northeast region was hesitant about predicting whether the measure would make it into law. Like the House the Senate is Republican. Gov. John Lynch is a Democrat.
Ms. Kersey said the large margin of passage in House, 183-85, "should also make a statement to the other branches."
She commented that, "This decrease in the premium tax would make New Hampshire a more attractive place for insurers to do business and generate economic growth for the state."
The bill (HB 678) passed on a roll call vote. The House in January approved the legislation and sent it to the Ways and Means Committee for further study. That Committee gave the bill a positive report back to the House floor last week.
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