CHAPTER 256. AIRCRAFT INSURANCE
INSURANCE CODE
TITLE 3. DEPARTMENT FUNDS, FEES, AND TAXES
SUBTITLE C. INSURANCE MAINTENANCE TAXES
CHAPTER 256. AIRCRAFT INSURANCE
Sec. 256.001. MAINTENANCE TAX IMPOSED. A maintenance tax is
imposed on each authorized insurer with gross premiums subject to
taxation under Section 256.003. 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. 256.002. MAXIMUM RATE; ANNUAL ADJUSTMENT. (a) The rate of
assessment set by the commissioner may not exceed 0.4 percent of
the gross premiums subject to taxation under Section 256.003.
(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 all
classes of insurance specified under Chapter 2101.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 1, eff. April 1,
2005.
Amended by:
Acts 2007, 80th Leg., R.S., Ch.
730, Sec. 2C.006, eff. April 1, 2009.
Sec. 256.003. PREMIUMS SUBJECT TO TAXATION. An insurer shall
pay maintenance taxes under this chapter on the correctly
reported gross premiums from writing a class of insurance
specified under Chapter 2101.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 1, eff. April 1,
2005.
Amended by:
Acts 2007, 80th Leg., R.S., Ch.
730, Sec. 2C.007, eff. April 1, 2009.
Sec. 256.004. 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 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.