Health insurance; premium taxes; clarifying applicability of certain exclusion; premium tax credit; creating certain exclusion. Emergency.

Premium tax proceeds from entities contracted under the Ensuring Access to Medicaid Act are now explicitly directed to the Medicaid Health Improvement Revolving Fund, with language added to prevent future apportionment of these funds.

Formatting and structural changes occurred as the bill moved from Engrossed to Enrolled status, including reorganization of sections and removal of page numbers.

Clarified reporting requirements for insurance companies, including specific provisions for life insurance policies insuring employees and directors for employer benefit.

Added specific exemption language for life insurance policies where premiums are taxed at graduated rates based on policy value thresholds.

Removed $100,000 appropriation to Oklahoma Health Care Authority from General Revenue Fund for fiscal year ending June 30, 2026

Added provision directing premium tax proceeds from contracted entities under Ensuring Access to Medicaid Act to Medicaid Health Improvement Revolving Fund

Added detailed reporting requirements for insurance companies to report direct written premiums, membership fees, and other charges to Insurance Commissioner by March 1st

Modified premium tax rates for life insurance policies benefiting employers, with tiered rates of 2.25% up to $100,000 and 0.1% on amounts exceeding that threshold

Modified tax treatment for annuity contracts and HMO payments from Secretary of Health and Human Services under 42 U.S.C. Section 1395mm(g) to exclude them from premium tax

Modified late payment penalties to include interest at average U.S. Treasury Bill rate plus four percentage points