Sec. 1. 24-A MRSA §2412-A, sub-§1, ¶B, as enacted by PL 1999, c. 328, §1, is amended by amending subparagraph (2), division (b), subdivision (iv) to read:

(iv) From After January 1, 2003 until December 31, 2003, $50,000.

Sec. 2. Retroactivity. This Act applies retroactively to September 18, 1999.

SUMMARY

This bill amends the definition of large commercial policyholder by clarifying what criteria must be met for the premium threshold for property and casualty insurance premiums by eliminating the end date for the $50,000 threshold.