Captive Insurance Companies (5452XD) - Insurance and Financial Services, Department of

This bill (5452XD) adds privacy protections for tax returns filed by captive insurance companies and life captive reinsurance companies in Iowa. It prohibits state officers or employees from inspecting or publishing these returns (making violations a serious misdemeanor), while allowing limited sharing with federal or other state tax officials under formal agreements. The bill also clarifies definitions for terms like "captive company," "protected cell," and "foreign captive company" within Iowa's insurance code. These changes primarily affect Iowa-based captive insurance companies, life captive reinsurance companies, and their regulatory processes. The key mechanism is the new confidentiality requirement for their tax returns, not changes to insurance operations or rates.