Bill Summary

SB 894 Restrictions on Employer-owned Life Insurance Policies (2026 Session)
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Sponsors
by Martin
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Summary
Restrictions on Employer-owned Life Insurance Policies; Authorizing employer-owned life insurance policies covering certain key persons of business entities, organizations, companies, and corporations under specified circumstances; providing that premiums, loan interests, and expenses related to employer-owned life insurance are not tax deductible; specifying that insurers that violate certain provisions are subject to a fine of up to $1 million per violation and may have its authority to transact insurance suspended or revoked, etc. Effective Date: July 1, 2026
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committees of reference
» S Banking and Insurance
   S Appropriations Committee on Agriculture, Environment, and General Government
   S Fiscal Policy
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Actions
12/12/25
SENATE
Filed
12/16/25
SENATE
Referred to Banking and Insurance; Appropriations Committee on Agriculture, Environment, and General Government; Fiscal Policy
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bill text & filed amendments
0894
Filed on 12/12/25
PDF
No amendments to this bill text filed.
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Statute Citations
627.4635
Research & Reports
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