CHAPTER 254. MOTOR VEHICLE INSURANCE

INSURANCE CODE

TITLE 3. DEPARTMENT FUNDS, FEES, AND TAXES

SUBTITLE C. INSURANCE MAINTENANCE TAXES

CHAPTER 254. MOTOR VEHICLE INSURANCE

Sec. 254.001. MAINTENANCE TAX IMPOSED. A maintenance tax is

imposed on each authorized insurer with gross premiums subject to

taxation under Section 254.003. The tax required by this chapter

is in addition to other taxes imposed that are not in conflict

with this chapter.

Added by Acts 2003, 78th Leg., ch. 1274, Sec. 1, eff. April 1,

2005.

Sec. 254.002. MAXIMUM RATE; ANNUAL ADJUSTMENT. (a) The rate of

assessment set by the commissioner may not exceed 0.2 percent of

the gross premiums subject to taxation under Section 254.003.

(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 motor

vehicle insurance.

Added by Acts 2003, 78th Leg., ch. 1274, Sec. 1, eff. April 1,

2005.

Sec. 254.003. PREMIUMS SUBJECT TO TAXATION. An insurer shall

pay maintenance taxes under this chapter on the correctly

reported gross premiums from writing motor vehicle insurance in

this state, including personal and commercial automobile

insurance.

Added by Acts 2003, 78th Leg., ch. 1274, Sec. 1, eff. April 1,

2005.

Amended by:

Acts 2007, 80th Leg., R.S., Ch.

932, Sec. 13, eff. June 15, 2007.

Sec. 254.004. MAINTENANCE TAX DUE DATES. (a) The insurer shall

pay the maintenance tax annually or semiannually, as determined

by the comptroller.

(b) The comptroller may require semiannual or other periodic

payment only from an insurer whose maintenance tax liability

under this chapter for the previous tax year was at least $2,000.

Added by Acts 2003, 78th Leg., ch. 1274, Sec. 1, eff. April 1,

2005.