Issue Date: 2005-09-01
Revised Date: 2013-07-11

Legal Cites

Object Type

Cash — Insurance

Origin Date

1929 by 41st Leg.

Description

An annual fee NTE 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 (H.B. 1554, 68th Leg., R.S.).

Deposit Funds

  • 0001 – General Revenue Fund To be allocated to GR Account -- Texas Department of Insurance Operating (No. 0036) (formerly to the Title Insurance Fund (No. 0162), amended by S.B. 928, 68th Leg., R.S.)

Note

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 14
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