SB 60 Montana Senate · 2025 Regular Session

Revise insurance premium taxes for certain captive insurers

SB 60 revises the laws governing insurance premium taxes for certain captive insurance companies and special purpose insurers. The bill establishes new tiered tax rates for both direct premiums collected and assumed reinsurance premiums. It also sets a minimum annual tax of $5,000, with quarterly adjustments for authorization or surrender, and an aggregate tax cap of $100,000 for most captive insurers. These changes apply to tax years beginning after December 31, 2025.

Bill status signed all 5 stages cleared

Introduction

Dec 2024

Committee Review

Apr 2025

Senate Passage

Apr 2025

House Passage

Apr 2025

Signed into Law

May 2025

Introduced Dec 16, 2024 Signed May 13, 2025

Maddy AI version diff · 2 comparisons

What changed between versions

SB0060_1(7).pdf → SB0060_X.pdf · 3 edits

MINOR

The bill was finalized as an enrolled version, removing draft markers and adding official certification signatures. The substantive policy content remains unchanged, continuing to revise tax rates for captive and special purpose insurers and setting the applicability date for tax years beginning after December 31, 2025.

Scope change

The bill's scope and applicability remain unchanged; the document status shifted from a draft to an officially enrolled legislative bill.

TECHNICAL

Removed draft formatting markers, page headers, and version numbers (e.g., 'SB 60.1') that were present in the earlier version.

Added official certification text and signature lines for the Secretary of the Senate, Senate President, and date of signing to validate the bill as an enrolled act.

Adjusted title phrasing slightly from 'captive insurers' to 'special purpose insurers' in the act's short title, though the operative text defines both.

Floor votes · Senate Feb 14, 2025 · House Apr 9, 2025

How they voted

50–0

Passed

Total votes 50

Feb 14, 2025

D Democratic18

18 Yea

100% Yea

R Republican32

32 Yea

100% Yea

Vote distribution

All Yea All Nay Mixed No data

Full legislative history

Actions timeline

Total actions

Key actions

Committee

May 9, 2025

Signed into law

(S) Signed by Governor

upper

Apr 29, 2025

Lower · Passed

(H) Signed by Speaker

lower

Apr 21, 2025

Upper · Passed

(S) Signed by President

upper

Apr 9, 2025

House · Passed

House Vote: pass (95-2-3)

house

Apr 8, 2025

Lower · Passed

(H) Committee Report - (H) Appropriations

lower

Apr 8, 2025

Lower · Passed

(H) Committee Executive Action - (H) Appropriations

lower

Mar 25, 2025

Committee

(H) Rereferred to Committee - (H) Appropriations

lower

Mar 21, 2025

Lower · Passed

(H) Committee Report - (H) Business and Labor

lower

Mar 21, 2025

Lower · Passed

(H) Committee Executive Action - (H) Business and Labor

lower

Feb 17, 2025

Committee

(H) Referred to Committee - (H) Business and Labor

lower

Feb 14, 2025

Senate · Passed

Senate Vote: pass (50-0)

senate

Feb 12, 2025

Upper · Passed

(S) Committee Report - (S) Finance and Claims

upper

Feb 12, 2025

Upper · Passed

(S) Committee Executive Action - (S) Finance and Claims

upper

Feb 7, 2025

Committee

(S) Rereferred to Committee - (S) Finance and Claims

upper

Feb 5, 2025

Upper · Passed

(S) Committee Report - (S) Business, Labor and Economic Affairs

upper

Feb 5, 2025

Upper · Passed

(S) Committee Executive Action - (S) Business, Labor and Economic Affairs

upper

Jan 14, 2025

Committee

(S) Referred to Committee - (S) Business, Labor and Economic Affairs

upper

Dec 16, 2024

Introduced

(S) Introduced

upper

1 primary · 0 co-sponsors