A bill for an act relating to captive insurance companies and life captive reinsurance companies, and including civil penalties.

This bill updates Iowa's laws regarding captive insurance and life captive reinsurance companies by clarifying definitions and expanding the types of insurance these entities can offer. It establishes new categories for different captive structures, such as protected cell and special purpose companies, and allows them to apply for certificates of authority to provide various insurance products like health, life, and property coverage. The legislation also strengthens privacy protections for tax returns filed by these companies while permitting information sharing with federal and other state authorities for regulatory purposes. Additionally, the bill imposes stricter penalties on state officials who willfully or recklessly publish confidential tax information, including dismissal from office or employment.