BILL · 2021–22 SESSION
SB 5623: Credit history/insurance
Protecting consumers by limiting the ability of insurers to use credit histories to increase personal insurance premiums at renewal, but not prohibiting the use of credit history by insurers.
Summary
- Prohibits the use of credit history to increase rates or premiums at renewal for any personal insurance policy holder beginning on July 1, 2023.
- Allows insurers to resume the use of credit history effective immediately.
From the Senate Bill Report (SB 5623), written by the Legislature's nonpartisan staff. Read the full report ↗
Did not pass Did not pass · died in committee
- IntroducedJan 10, 2022
- Out of committeestopped here
- Passed Senate
- Passed House
- Governor
- Law
- Prime sponsor
- Mark Mullet (D-5)
- Introduced
- January 10, 2022 in the Senate
- Last action
- January 10, 2022
- Budget
- Has a fiscal note
AN ACT Relating to protecting consumers by limiting the ability of insurers to use credit histories to increase personal insurance premiums at renewal, but not prohibiting the use of credit history by insurers;
Sponsors
Prime sponsor: Mark Mullet (D-5)
3 co-sponsors (1 Democrat, 2 Republicans)
Votes
No recorded floor votes. This measure never reached a floor vote.
History
- First reading, referred to Business, Financial Services & Trade.
- Prefiled for introduction.
SB 5623 in other sessions
Bill numbers restart every two years, so the same number is a different bill in each session.
- SB 5623 (2025–26) Public records exemptions
- SB 5623 (2023–24) Hate crimes
- SB 5623 (2019–20) Collective bargaining/dues
- SB 5623 (2017–18) Basic education program
- SB 5623 (2015–16) Motorcycles on laned roads
- SB 5623 (2013–14) Marine aquaculture
- SB 5623 (2011–12) Houseboats and moorages
- SB 5623 (2009–10) Acknowledgment of paternity