To amend the Internal Revenue Code of 1986 to enhance tax incentives for small property and casualty insurance companies.

H.R. 3360 is a proposal to update the tax rules for small property and casualty insurance companies to help them remain financially viable. The bill would increase the maximum amount of premiums a small insurer can collect while still qualifying for lower tax rates, raising the limit from $1.2 million to nearly $2 million and adjusting it for inflation in future years. For citizens, these changes are intended to support smaller, often local insurance providers, potentially helping them stay in business and maintain competitive insurance options for consumers.