78th Texas Legislature, Regular Session, House Bill 2424, Chapter 209 Page: 2 of 70
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H.B. No. 2424
1 employees' salaries and expenses and expenses provided by Article
2 1.28 of this Code shall be collected at the time of examination;
3 (2) assessments calculated annually for each corporation or
4 association which take into consideration annual premium receipts,
5 and/or admitted assets that are not attributable to 90 percent of
6 pension plan contracts as defined in Section 818(a) of the Internal
7 Revenue Code of 1986 (26 U.S.C. Section 818(a)), and/or insurance
8 in force shall be assessed annually for each such corporation or
9 association. In computing the assessments, the board may not
10 consider insurance premiums for insurance contracted for by a state
11 or federal governmental entity to provide welfare benefits to
12 designated welfare recipients or contracted for in accordance with
13 or in furtherance of Title 2, Human Resources Code, or the federal
14 Social Security Act (42 U.S.C. Section 301 et seq.). The amount of
15 all examination and evaluation fees [the acmcntc- ] paid in each
16 taxable year to [-r fc-thew ue of] the State of Texas by an [ay]
17 insurance carrier [crpra- ti o..b - 0-or&c-- h-eby Fecd1W
18 shall be allowed as a credit on the amount of premium taxes due
19 under this article [(to --; be d M& b.y.mA hr croM. Mer Fn or d s
21 1.20 cf thief Code]. The limitations provided by Sections
22 803.007(1) and (2)(B) of this code for domestic insurance companies
23 apply to foreign insurance companies.
24 SECTION 3. Section i, Article 4.10, Insurance Code, is
25 amended to read as follows:
26 Sec. i. PAYMENT OF TAX. Every insurance carrier, including
27 Lloyd's and reciprocal or interinsurance exchanges and any other2
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Texas. Legislature. House of Representatives. 78th Texas Legislature, Regular Session, House Bill 2424, Chapter 209, legislative document, June 2003; [Austin, Texas]. (https://texashistory.unt.edu/ark:/67531/metapth158452/m1/2/: accessed April 28, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting UNT Libraries Government Documents Department.