97SS HR9


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HR 9 (BR 42) - J. Bruce, J. Richards

     Urge the Kentucky Revenue Cabinet to permit insurance companies selling Single Premium Deferred Annuities and Wholly Employer Sponsored Group Annuities in Kentucky to continue to elect the reporting and payment of the premiums tax upon annuitization rather than paying the tax in the year in which the annuity is purchased; also urge the Kentucky Revenue Cabinet to propose legislation for consideration during the 1998 Regular Session that would result in the tax treatment for annuity policies being equivalent to the tax treatment provided to other forms of retirement savings products.

     May 15-introduced in House; adopted by voice vote

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