The Alaska Division of Insurance proposes to adopt a regulation in Title 3 of the Alaska Administrative Code dealing with premium taxes on individual life insurance including the following:

3 AAC 21.580 is proposed to add a new section that would define Individual Life Insurance as it is used in AS 21.09.210(m) for purposes of determining the premium tax rate.

You may comment on the proposed regulation changes, including the potential costs to private persons of complying with the proposed changes, by submitting written comments to the Division of Insurance; Attention: Jackson Willard; P.O. Box 110805; Juneau, AK 99811-0805. Additionally the Division of Insurance will accept comments by electronic mail at jackson.willard@alaska.gov or by fax to (907) 465-3422. Comments may also be submitted through the Alaska Online Public Notice System by accessing this notice on the system and using the comment link. All comments must be received no later than 5:00 p.m., Monday, March 25, 2019.

Oral or written comments also may be submitted at a hearing to be held on Wednesday, March 20, 2019 in Conference Room B on the ninth floor of the State Office Building, located at 333 Willoughby Ave., Juneau, Alaska. The hearing will be held from 11:00 AM -12:00 PM and might be extended to accommodate those present before 12:00 PM who did not have an opportunity to comment. If you are unable to attend the meeting in person and would like to participate by teleconference, please call l-800-315-6338 and enter the access code 42070 followed by #.

You may submit written questions relevant to the proposed action to the Division of Insurance; Attention: Jackson Willard; P.O. Box l 10805, Juneau, AK 99811-0805 or by e-mail to jackson.willard@alaska.gov. The questions must be received at least 10 days before the end of the public comment period. The Division of Insurance will aggregate its response to substantially similar questions and make the questions and responses available on the division's website at https://www.commerce.alaska.gov/web/ins/Resources/Notices.aspx and on the Alaska Online Public Notice System. The division may, but is not required to, answer written questions received after the 10-day cut-off date and before the end of the comment period.

If you are a person with a disability who needs a special accommodation in order to participate in the process, please contact Laura Watson at laura.watson@alaska.gov or (907) 465-2597 no later than Friday, March 15, 2019 to ensure that any necessary accommodations can be provided.

A copy of the proposed regulation changes is available on the division's website at https://www.commerce.alaska.gov/web/ins/Resources/Notices.aspx or on the Alaska Online Public Notice System.

After the public comment period ends, the Division of Insurance will either adopt the proposed regulation changes or other provisions dealing with the same subject, without further notice, or decide to take no action. The language of the final regulation may be different from that of the proposed regulation. YOU SHOULD COMMENT DURING THE TIME ALLOWED IF YOUR INTERESTS COULD BE AFFECTED. Written comments received are public records and are subject to public inspection.

Statutory Authority: AS 21.06.090; AS 21.09.210

Statutes Being Implemented, Interpreted, or Made Specific: AS 21.09.210

Fiscal information: The proposed regulation changes are not expected to require an increased appropriation.

The Division of Insurance keeps a list of individuals and organizations interested in its regulations. Those on the list will automatically be sent a copy of all the division’s notices of proposed regulation changes. To be added to or removed from the list, send a request to the Division of Insurance; Attention: Jackson Willard; P.O. Box 110805; Juneau, AK  98811-0805 or by e-mail to jackson.willard@alaska.gov.         

DATE: February 22, 2019

Lori Wing-Heier

Director of Insurance