§ 27-64-5 — Payment of Premium Tax on Travel Insurance Programs; Documentation

(a) A travel insurer shall pay premium tax, as provided in Section 27-4A-3, on travel insurance premiums paid by any of the following:
(1) An individual primary policyholder who is a resident of this state.
(2) A primary certificate holder who is a resident of this state who elects coverage under a group travel insurance policy.
(3) A blanket travel insurance policyholder who is a resident of, or has its principal place of business or the principal place of business of an affiliate or subsidiary that has purchased blanket travel insurance in this state for eligible blanket group members, subject to any apportionment rules that apply to the insurer across multiple taxing jurisdictions or that permit the insurer to allocate premiums on an apportioned basis in a reasonable and equitable manner in those jurisdictions.
(b) A travel insurer shall do both of the following:
(1) Document the state of residence or principal place of business of the policyholder or certificate holder, as required in subsection (a).
(2) Report as premium only the amount allocable to travel insurance and not any amounts received for travel assistance services or cancellation fee waivers.

Legislative History

(Act 2022-152, §1.)