Relating to distributions from funds collected from premium tax on certain insurance policies
Summary
SB 148 is a bill relating to how money collected from the premium tax on certain insurance policies is distributed. Based on the caption, the measure appears to adjust the allocation or transfer of premium tax revenues rather than changing the tax rate itself. The bill was introduced in the Senate and referred to the Senate Banking and Insurance Committee on January 14, 2026.
Because the full bill text is not available in the provided materials, the specific funds, percentages, or recipient programs affected cannot be identified from the record here. The bill likely concerns the statutory framework governing insurance premium tax receipts and the distribution of those receipts among state funds, agencies, or designated purposes.
Impact
SB 148 would affect West Virginia statutes governing the distribution of premium tax revenues from certain insurance policies. Its practical impact would be on how those receipts are allocated within state government, potentially changing the flow of money to one or more funds, programs, or entities that currently receive premium tax distributions. No changes to the underlying premium tax rate can be confirmed from the available text.
Sentiment
There is no committee transcript or recorded vote information available in the provided materials, so no direct evidence of support or opposition can be identified. The bill’s referral to the Banking and Insurance Committee suggests it is being handled as a policy and fiscal distribution measure within the insurance regulatory framework. Overall sentiment cannot be reliably assessed from the record provided.
Contention
The main point of potential contention is likely the allocation of premium tax revenue: any proposal that redirects or rebalances distributions can affect state funds, insurance-related programs, or other beneficiaries that currently rely on those receipts. Without the bill text or committee discussion, it is not possible to identify which stakeholders support or oppose the measure, but fiscal impacts and fund distribution changes are the most likely areas of debate.