1. (1) An insurer shall pay premium tax, as provided in section 10-3-209, on travel insurance premiums paid by any of the following:

   1. (a) A primary policyholder who is a resident of this state;
   2. (b) A primary certificate holder who is a resident of this state and who elects coverage under a group travel insurance policy; or

   3. (c) Subject to any apportionment rules that apply to the insurer across multiple taxing jurisdictions or that permit the insurer to allocate premiums on an apportioned basis in a reasonable and equitable manner in those jurisdictions, a policyholder of blanket travel insurance:

      1. (I) Who is a resident of this state;
      2. (II) Whose principal place of business is in this state; or
      3. (III) Whose affiliate or subsidiary has a principal place of business in this state, if the affiliate or subsidiary has purchased blanket travel insurance in this state for members of an eligible group.

2. (2) A travel insurer shall:

   1. (a) Document the state of residence or principal place of business of a policyholder or certificate holder, for purposes of paying premium tax as required in subsection (1) of this section; and
   2. (b) Report as premium only the amount allocable to travel insurance and not any amounts received for travel assistance services or cancellation fee waivers.

Source: L. 2024: Entire part added, (HB 24-1060), ch. 128, p. 433, § 2, effective August 7.