State Codes and Statutes
Statutes > Texas > Insurance-code > Title-3-department-funds-fees-and-taxes > Chapter-251-general-provisions
INSURANCE CODE
TITLE 3. DEPARTMENT FUNDS, FEES, AND TAXES
SUBTITLE C. INSURANCE MAINTENANCE TAXES
CHAPTER 251. GENERAL PROVISIONS
Sec. 251.001. DETERMINING RATE OF ASSESSMENT. (a) The
commissioner shall annually determine the rate of assessment of
each maintenance tax imposed under this subtitle.
(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.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 1, eff. April 1,
2005.
Sec. 251.002. DUTY TO ADVISE COMPTROLLER OF RATE. 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.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 1, eff. April 1,
2005.
Sec. 251.003. EFFECT OF LATE ADVISEMENT OF RATE. (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.
(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:
(1) advise each taxpayer in writing of the amount of any
additional taxes due; or
(2) refund any excess taxes paid.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 1, eff. April 1,
2005.
Sec. 251.004. DEPOSIT OF MAINTENANCE TAXES. (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.
(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.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 1, eff. April 1,
2005.
Amended by:
Acts 2007, 80th Leg., R.S., Ch.
1323, Sec. 1, eff. September 1, 2007.
State Codes and Statutes
Statutes > Texas > Insurance-code > Title-3-department-funds-fees-and-taxes > Chapter-251-general-provisions
INSURANCE CODE
TITLE 3. DEPARTMENT FUNDS, FEES, AND TAXES
SUBTITLE C. INSURANCE MAINTENANCE TAXES
CHAPTER 251. GENERAL PROVISIONS
Sec. 251.001. DETERMINING RATE OF ASSESSMENT. (a) The
commissioner shall annually determine the rate of assessment of
each maintenance tax imposed under this subtitle.
(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.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 1, eff. April 1,
2005.
Sec. 251.002. DUTY TO ADVISE COMPTROLLER OF RATE. 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.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 1, eff. April 1,
2005.
Sec. 251.003. EFFECT OF LATE ADVISEMENT OF RATE. (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.
(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:
(1) advise each taxpayer in writing of the amount of any
additional taxes due; or
(2) refund any excess taxes paid.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 1, eff. April 1,
2005.
Sec. 251.004. DEPOSIT OF MAINTENANCE TAXES. (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.
(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.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 1, eff. April 1,
2005.
Amended by:
Acts 2007, 80th Leg., R.S., Ch.
1323, Sec. 1, eff. September 1, 2007.
State Codes and Statutes
Statutes >
Texas >
Insurance-code >
Title-3-department-funds-fees-and-taxes >
Chapter-251-general-provisions INSURANCE CODE
TITLE 3. DEPARTMENT FUNDS, FEES, AND TAXES
SUBTITLE C. INSURANCE MAINTENANCE TAXES
CHAPTER 251. GENERAL PROVISIONS
Sec. 251.001. DETERMINING RATE OF ASSESSMENT. (a) The
commissioner shall annually determine the rate of assessment of
each maintenance tax imposed under this subtitle.
(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.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 1, eff. April 1,
2005.
Sec. 251.002. DUTY TO ADVISE COMPTROLLER OF RATE. 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.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 1, eff. April 1,
2005.
Sec. 251.003. EFFECT OF LATE ADVISEMENT OF RATE. (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.
(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:
(1) advise each taxpayer in writing of the amount of any
additional taxes due; or
(2) refund any excess taxes paid.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 1, eff. April 1,
2005.
Sec. 251.004. DEPOSIT OF MAINTENANCE TAXES. (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.
(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.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 1, eff. April 1,
2005.
Amended by:
Acts 2007, 80th Leg., R.S., Ch.
1323, Sec. 1, eff. September 1, 2007.
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