Bill Text: NH HB1048 | 2022 | Regular Session | Enrolled

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Bill Title: Relative to minimum nonforfeiture amounts under the standard nonforfeiture law for individual deferred annuities.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Passed) 2022-06-01 - Signed by Governor Sununu 05/27/2022; Chapter 105; 07/26/2022 [HB1048 Detail]

Download: New_Hampshire-2022-HB1048-Enrolled.html

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HB 1048 - VERSION ADOPTED BY BOTH BODIES

 

 

2022 SESSION

22-2325

11/04

 

HOUSE BILL 1048

 

AN ACT relative to minimum nonforfeiture amounts under the standard nonforfeiture law for individual deferred annuities.

 

SPONSORS: Rep. Potucek, Rock. 6

 

COMMITTEE: Commerce and Consumer Affairs

 

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ANALYSIS

 

This bill modifies the interest rate used in determining minimum nonforfeiture amounts.

 

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Explanation: Matter added to current law appears in bold italics.

Matter removed from current law appears [in brackets and struckthrough.]

Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

22-2325

11/04

 

STATE OF NEW HAMPSHIRE

 

In the Year of Our Lord Two Thousand Twenty Two

 

AN ACT relative to minimum nonforfeiture amounts under the standard nonforfeiture law for individual deferred annuities.

 

Be it Enacted by the Senate and House of Representatives in General Court convened:

 

1  Insurance; Minimum Nonforfeiture Amounts.  Amend RSA 409-A:4, III(c) to read as follows:

(c) Where the resulting interest rate is not less than [one percent] 15 basis points (0.15 percent); and

2  Effective Date.  This act shall take effect 60 days after its passage.