Texas Comptroller of Public Accounts
Revenue Object 3203 – Insurance Maintenance Taxes – Fire or Catastrophe |
| Legal Citations: |
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| Revenue Type: Cash — Insurance |
| Origin Date: 1920 by the 36th Leg. |
| Issue Date: |
| Revised Date: 2019-12-02 |
An annual tax not to exceed 1.25% of the correctly reported gross premiums from issuance of fire or catastrophe insurance.
As determined by the Comptroller. May be collected on an annual or semi-annual basis if liability for previous tax year was $2,000 or more.
The first $3.05 million in total maintenance taxes per fiscal year is allocated to the Floodplain Management Account in the Texas Infrastructure Resiliency Fund (0175). The remainder to GR Account 0036 - Texas Department of Insurance Operating.
Collection amended by H.B. 1554, 68th Leg., R.S.
S.B. 928, 68th Leg., R.S. changed deposit from Fire Insurance Fund 0013 to General Revenue.
Collection changed from Department of Insurance (454) to Comptroller by H.B. 1461, 73rd Leg., R.S.
Legal cite codified by H.B. 2922, 78th Leg. R.S.
H.B. 6, 84th Leg., R.S. re-created allocation to the Floodplain Management Fund 0330.
S.B. 7, 86th Leg., R.S. abolished Fund 0330 and moved allocation of $3.05 million to the Texas Infrastructure Resiliency Fund 0175.
| Appropriation Year | 25 |
|---|---|
| USAS Title | INSURANCE MAINTENANCE TAXES |
| Receipt Category | 04 – Insurance |
| Receipt Type | 01 – Taxes |
| Object Group | 30 – Revenues |
| USAS Status | A |
| Rev/Exp Category | 14 – INSURANCE TAXES |