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Texas Laws | Insurance Code
INSURANCE CODE
TITLE 3. DEPARTMENT FUNDS, FEES, AND TAXES

(i) The legislature finds that it is in the public interest to enter into insurance tax and regulatory agreements with other jurisdictions that may provide for the temporary remittal of amounts due other jurisdictions that exceed the amounts collected and for cooperation with other jurisdictions for the collection of taxes imposed by this state under Chapters 225 and 226 and similar taxes imposed under statutes of other jurisdictions on insurance premiums. The comptroller shall ensure that reasonable measures are developed to recover insurance taxes and other amounts due this state during each biennium. (2716)

(j) The comptroller may enter into a cooperative agreement, reciprocal agreement, or compact with another state to provide for the collection of taxes imposed by this state and the other states on insurances taxes that may be due the states and this state based on a standardized premium allocation adopted by the states under the agreement. The comptroller may also enter into other cooperative agreements with surplus lines stamping offices located in this state and other states in the reporting and capturing of related tax information. In addition, the comptroller may enter into cooperative agreements with processing entities located in this state or other states related to the capturing and processing of insurance premium and tax data. (2717)

(k) The comptroller may adopt rules as necessary to implement this chapter. In adopting rules under this chapter, the comptroller may not adopt a rule that does not specifically implement this section. (2718)

Added by Acts 2007, 80th Leg., R.S., Ch. 932 (H.B. 3315), Sec. 11, eff. June 15, 2007. (2719)

Renumbered from Insurance Code, Section 228.002 by Acts 2009, 81st Leg., R.S., Ch. 87 (S.B. 1969), Sec. 27.001(60), eff. September 1, 2009. (2720)

SUBTITLE C. INSURANCE MAINTENANCE TAXES (2721)(Text)

CHAPTER 251. GENERAL PROVISIONS (2722)(Text)
Sec. 251.001. DETERMINING RATE OF ASSESSMENT. (2723)(Text)

(a) The commissioner shall annually determine the rate of assessment of each maintenance tax imposed under this subtitle. (2724)

(b) In determining the rate of assessment, the commissioner shall consider the requirement to reimburse the appropriate portion of the general revenue fund under Section 201.052. (2725)

Added by Acts 2003, 78th Leg., ch. 1274, Sec. 1, eff. April 1, 2005. (2726)

Sec. 251.002. DUTY TO ADVISE COMPTROLLER OF RATE. (2727)(Text)

The commissioner shall advise the comptroller of the applicable rate of assessment of a maintenance tax not later than the 45th day before the due date of the tax report for the period for which that tax is due. (2728)

Added by Acts 2003, 78th Leg., ch. 1274, Sec. 1, eff. April 1, 2005. (2729)

Sec. 251.003. EFFECT OF LATE ADVISEMENT OF RATE. (2730)(Text)

(a) Except as provided by Subsection (b), if the commissioner does not advise the comptroller of the applicable rate of assessment of a maintenance tax by the date required by Section 251.002, the rate of assessment is the rate applied in the previous tax period. (2731)

(b) If the commissioner advises the comptroller of the applicable rate of assessment of a maintenance tax after the tax has been assessed, the comptroller shall: (2732)

(1) advise each taxpayer in writing of the amount of any additional taxes due; or (2733)

(2) refund any excess taxes paid. (2734)

Added by Acts 2003, 78th Leg., ch. 1274, Sec. 1, eff. April 1, 2005. (2735)

Sec. 251.004. DEPOSIT OF MAINTENANCE TAXES. (2736)(Text)

(a) Except as provided by Subsection (b), maintenance taxes collected under this subtitle shall be deposited in the general revenue fund and reallocated to the Texas Department of Insurance operating account. (2737)

(b) Each state fiscal year, the comptroller shall reallocate to the floodplain management account established under Section 16.3161, Water Code, the first $3.05 million of the maintenance taxes collected under Chapter 252 and deposited in the general revenue fund. (2738)

Added by Acts 2003, 78th Leg., ch. 1274, Sec. 1, eff. April 1, 2005. (2739)

Amended by: (2740)

Acts 2007, 80th Leg., R.S., Ch. 1323 (S.B. 1436), Sec. 1, eff. September 1, 2007. (2741)

CHAPTER 252. FIRE AND ALLIED LINES INSURANCE (2742)(Text)
Sec. 252.001. MAINTENANCE TAX IMPOSED. (2743)(Text)

A maintenance tax is imposed on each authorized insurer with gross premiums subject to taxation under Section 252.003. The tax required by this chapter is in addition to other taxes imposed that are not in conflict with this chapter. (2744)

Added by Acts 2003, 78th Leg., ch. 1274, Sec. 1, eff. April 1, 2005. (2745)

Sec. 252.002. MAXIMUM RATE; ANNUAL ADJUSTMENT. (2746)(Text)

(a) The rate of assessment set by the commissioner may not exceed 1.25 percent of the gross premiums subject to taxation under Section 252.003. (2747)

(b) The commissioner shall annually adjust the rate of assessment of the maintenance tax so that the tax imposed that year, together with any unexpended funds produced by the tax, produces the amount the commissioner determines is necessary to pay the expenses during the succeeding year of regulating all classes of insurance specified under: (2748)

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