ARIZONA HOUSE OF REPRESENTATIVES

SB 1182: fire insurance; premium tax proceeds

PRIME SPONSOR: Senator Boyer, LD 20

BILL STATUS: Caucus & Cow

Ways and Means DP 10-0-0-0

Overview

Provides the Department of Revenue (DOR) additional time to provide fire premium tax data to the State Treasurer (Treasurer) and provides the treasurer more time to distribute the tax.

History

Arizona revised statute (A.R.S. §20-224) established a premium tax on fire insurance policies, which are distributed each year to qualified municipal fire departments, legally organized fire districts and those public agencies who hire a private contractor to provide fire protection services. The proceeds of the distribution are to be used exclusively for the benefit of fire fighters who have retired and met qualifying requirements or for whom a retirement fund has been established by their employer (Title 9, chapter 8, Article 3, Arizona Revised Statutes).

Provisions

1. Establishes a deadline of June 15 for the DOR to certify to the Treasurer the cash value of the real property and improvements for the previous year in each qualified municipal fire departments, legally organized fire districts and those public agencies who hire a private contractor to provide fire protection services. (Sec. 1)

2. Changes the deadline from July 1 to July 31 each year for the state treasurer, using the information provided by the DOR and DOI to distribute the fire insurance premium tax to the qualified municipal fire departments, legally organized fire districts and those public agencies who hire a private contractor to provide fire protection services.  (Sec. 2)

3. Makes technical changes. (Sec. 1)

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7. Fifty-fourth Legislature                       SB 1182

8. First Regular Session                            Version 2: Caucus & COW

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