Relating to tax reporting requirements of insurers; and prescribing an effective date.

For purposes of determination of taxable income for corporate excise tax, allows 100 percent deduction of dividend payments made by insurer member of affiliated group to parent company. Applies to all tax years for which return is subject to audit, adjustment or appeal or for which claim of refund may be made after effective date of Act. Takes effect on 91st day following adjournment sine die.