“This year, we hope and expect to build on that momentum and achieve a number of new milestones in Congress and in the state legislatures across America,” he said in a statement.

The legislative agenda for this year includes:

o Continued strong support for the State Modernization and Regulatory Transparency (SMART) Act: IIABA said it hopes to see a measure introduced and moved through the House Financial Services Committee this year that includes the provisions in the panel's discussion draft, which would reform the current state-based regulatory system without creating a federal regulator or “optional” federal charter.

o Producer Licensing: The association wants all jurisdictions to issue and renew producer licenses on a reciprocal basis and to bring about increased uniformity in key areas. Many states enacted reciprocity and other reforms in the early part of the decade, but the reform effort has waned, IIABA said, and little additional progress has been made since then.

o Tax Reform: IIABA said it continues to support changes in the tax code to allow a quicker depreciation schedule for intangible assets when they are acquired in the purchase of small businesses.

It supports legislation to allow purchasers of eligible small businesses to write off as much as $5 million of purchased intangibles over a five-year period, with ratable depreciation over 10 years. It also supports President Bush's call to make the individual tax rate reductions permanent.

o Legal Reform: Independent agents and brokers will continue their push for reforms of the current litigation system treatment of claims related to asbestos exposure and medical malpractice cases.

o Natural Disaster Legislation: The active hurricane season of 2005 reiterated the need for comprehensive natural-disaster legislation in Congress, IIABA said.

The group noted there are currently four bills on the subject introduced in Congress and approaches that include the creation of a federal reinsurance program or allowing insurance companies to set aside tax-free reserves for certain catastrophic risks.

This is also an important issue at the state level, as many states will continue to consider catastrophe-related issues.

o Flood Insurance Reform: IIABA said it supports H.R. 4320, the National Flood Insurance Program Commitment to Policyholders and Reform Act of 2005.

The group said the bill contains a number of the 22 reforms suggested in a comprehensive flood modernization agenda released by the association in November.

o Health Care Reform: IIABA said it will continue to seek increased access to health insurance to help the uninsured obtain the coverage they need.

o Data Security: Independent agents and brokers said they will continue to push for legislation to address this issue while making sure any national standard is not burdensome. Enforcement of the standard should be done through state insurance regulators, IIABA said.