Calvo wants to work with Respicio on QCs - KUAM.com-KUAM News: On Air. Online. On Demand.

Calvo wants to work with Respicio on QCs

Posted: Updated:

by Sabrina Salas Matanane

Guam - It was Tuesday when Senator Rory Respicio introduced Bill 167 that would not only remove the current tax exemption on premiums collected by insurance companies as part of the qualifying certificate program but would also suspend and revoke existing QCs granted to insurance companies.

The measure came following an audit of the QC program and Governor Eddie Calvo urging lawmakers to change the QC law. Today Governor Calvo thanked Senator Respicio for taking the audit findings into consideration.  "So I congratulate him and I want to work with him into see how we can effectuate at least the spirit of the bill we understand that there's a bit of complication because these are current QCs and these are contracts and we have to see how we can legally move this process forward," he said.

In the QC audit, the Public Auditor revealed the generous benefits allowed under the qc program to insurance companies amounts to millions of dollars annually in lost revenue.

  • NEWS HEADLINESMore>>

  • American Red Cross Red Ball celebrates "Arc Angels"

    American Red Cross Red Ball celebrates "Arc Angels"

    The crowd showing up for the annual Red Ball event held at the Dusit Thani Resort in Tumon on Saturday.This year's theme was Arc Angels, celebrating the angels in our community. Attendees coming together to celebrate and support all that the American RedMore >>
    The crowd showing up for the annual Red Ball event held at the Dusit Thani Resort in Tumon on Saturday.This year's theme was Arc Angels, celebrating the angels in our community. Attendees coming together to celebrate and support all that the American Red More >>
  • Calvo officially requests for disaster declaration

    Calvo officially requests for disaster declaration

    Gov. Eddie Calvo has sent his official request to President Donald Trump for a major disaster declaration. He is asking that the entire territory be made eligible for public assistance, individual assistance and the Hazard mitigation grant program. CalvoMore >>
    Gov. Eddie Calvo has sent his official request to President Donald Trump for a major disaster declaration. He is asking that the entire territory be made eligible for public assistance, individual assistance and the Hazard mitigation grant program. Calvo More >>
  • Trial pushed back again for prison murder

    Trial pushed back again for prison murder

    Trial is pushed back yet again for the defendants charged in connection to last year's murder at the Department of Corrections. As reported, Edrite "Manson" Isar was found dead in his jail cell at the Hagatna lockup. Though it was initially believed he diMore >>
    Trial is pushed back yet again for the defendants charged in connection to last year's murder at the Department of Corrections. As reported, Edrite "Manson" Isar was found dead in his jail cell at the Hagatna lockup. Though it was initially believed he diMore >>
Powered by Frankly