| Issue Date: | 2005-09-01 |
|---|---|
| Revised Date: | 2018-02-12 |
Legal Citations
- Insurance Code sec. 271.002
Object Type
Cash — Insurance
Origin Date
1929 by 41st Leg.
Description
An annual fee of up to 1% of correctly reported gross premiums from sale of title insurance. Adjusted annually so that fees, along with unexpended funds produced by the fee, produces amount necessary to regulate title insurance.
Due Date
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.
Collecting Agencies
Deposit Funds
To be allocated to GR Account -- Texas Department of Insurance Operating (0036).
Note
S.B. 928, 68th Leg., R.S. changed allocation from the Title Insurance Fund (0162) to GR Account -- Texas Department of Insurance Operating (0036).
Due date amended by H.B. 1554, 68th Leg., R.S.
Amended by H.B. 1461, 73rd Leg., R.S. Legal cite codified by H.B. 2922, 78th Leg. R.S.
Previously classified under Insurance Maintenance Taxes, revenue code 3203. Beginning fiscal 2014, reclassified per statutory language.
USAS Values
| Appropriation Year | 25 |
|---|---|
| USAS Title | INSURANCE COMPANY FEES |
| Receipt Category | 04 – Insurance |
| Receipt Type | 10 – Business/Professional Fees |
| Object Group | 30 – Revenues |
| USAS Status | A |
| Rev/Exp Category | 01 – LICENSES, FEES, FINES, AND PENALTIES |