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

This bill protects the confidentiality of tax returns filed by captive insurance companies and life captive reinsurance companies in Iowa. It prohibits state employees from publishing these returns, imposing serious misdemeanor penalties including dismissal from state employment for violations. The law allows limited sharing of these returns with federal tax authorities or other states under formal agreements. This directly affects companies operating under Iowa’s captive insurance regulations, ensuring their tax filings remain confidential except in specific, authorized circumstances.