Recently, I met with a local Fireman’s Association in my district who raised concerns that the 2% tax on foreign fire insurance premiums has not been increased since at least 1984. As inflation has increased by over 210% over that period, so have the cost of the goods and services that Foreign Fire Insurance Tax revenue pays for.
 
As you may know, revenue generated by this tax is deposited into the General Fund and portions are allocated to the Fire Insurance Tax Fund and the Municipal Pension Aid Fund. Foreign Fire Insurance Tax Funds are paid out annually to Volunteer Firefighters’ Relief Associations for a number of uses, including purchasing equipment and providing trainings, disability benefits and death benefits to firefighters. Municipal Pension Aid Funds are used to pay for police officers’ pensions, retirement, and disability benefits.
 
As a result of the request from my local association, I will be introducing legislation to increase the gross premiums tax on insurance companies to 8%. It is my hope that raising the tax rate will increase the revenue generated for these funds and help our Volunteer Firefighters’ Relief Associations and Municipal Pension System State Aid Programs continue to carry out their normal operations while giving back to the employees and volunteers who have given so much for us. Please join me in introducing this important legislation.