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A BILL TO BE ENTITLED
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AN ACT
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relating to premium tax credits for examination and evaluation fees |
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paid by insurers. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 463.160, Insurance Code, is amended to |
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read as follows: |
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Sec. 463.160. PREMIUM TAX CREDIT FOR CLASS A ASSESSMENT. |
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The amount of a Class A assessment paid by a member insurer in each |
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taxable year shall be allowed as a credit on the amount of premium |
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taxes due [in the same manner as a credit is allowed under Section
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401.151(e)]. |
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SECTION 2. Sections 221.006, 222.007, 223.009, 401.151(e), |
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and 401.154, Insurance Code, are repealed. |
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SECTION 3. This Act takes effect immediately if it receives |
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a vote of two-thirds of all the members elected to each house, as |
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provided by Section 39, Article III, Texas Constitution. If this |
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Act does not receive the vote necessary for immediate effect, this |
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Act takes effect September 1, 2011. |