Introduced by Rep. Jon Bumstead (R) on March 15, 2016
To repeal a controversial tax credit that auto insurance companies can collect based on their payments into an “insurance placement facility” or high risk pool for individuals unable to get coverage through the regular risk-based underwriting process. Reportedly the companies are collecting $80 million annually for the credit, which they claim would be tacked on to insurance bills if it is repealed. Official Text and Analysis.
Referred to the House Government Operations Committee on March 15, 2016
Substitute offered by Rep. Jon Bumstead (R) on June 2, 2016
To replace the previous version of the bill with one that revises details but does not change the substance as previously described.
The substitute passed by voice vote in the House on June 2, 2016