This bill amends the current law regarding tax credits for assessments paid by member insurers to the New Hampshire Life and Health Insurance Guaranty Association. It allows insurers to offset their tax liability by claiming 10 percent of the assessment for each of the 10 consecutive years following the payment of the assessment, specifically for assessments made after the effective date of the act. The bill also modifies the language to clarify that the offset applies solely to disability income coverages. Additionally, it provides that if a member insurer ceases doing business, any uncredited assessments can be credited against its tax liability for the year it stops operations. The commissioner is granted the authority to adopt necessary rules for implementing these provisions.

Furthermore, the bill exempts the conduct of a sports book and participation in sports wagering from criminal gambling statutes under certain conditions. The specific language defining sports wagering has been removed and replaced with broader terms to encompass authorized activities related to sports betting. The effective date for the first section of the act is set for 60 days after passage, while the remainder of the act will take effect immediately upon passage.

Statutes affected:
Introduced: 408-F:13
As Amended by the Senate: 408-F:13, 647:2
Version adopted by both bodies: 408-F:13, 647:2
CHAPTERED FINAL VERSION: 408-F:13, 647:2
HB1194 text: 408-F:13