INSURANCE CODE
CHAPTER 252. FIRE AND ALLIED LINES INSURANCE
§ 252.001. MAINTENANCE TAX IMPOSED. A maintenance tax
is imposed on each authorized insurer with gross premiums subject
to taxation under Section 252.003. 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, § 1, eff. April 1, 2005.
§ 252.002. MAXIMUM RATE; ANNUAL ADJUSTMENT. (a) The
rate of assessment set by the commissioner may not exceed 1.25
percent of the gross premiums subject to taxation under Section
252.003.
(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 Subchapter C, Chapter 5.
Added by Acts 2003, 78th Leg., ch. 1274, § 1, eff. April 1, 2005.
§ 252.003. PREMIUMS SUBJECT TO TAXATION. An insurer
shall pay maintenance taxes under this chapter on the correctly
reported gross premiums collected from writing insurance in this
state against loss or damage by:
(1) bombardment;
(2) civil war or commotion;
(3) cyclone;
(4) earthquake;
(5) excess or deficiency of moisture;
(6) explosion as defined by Article 5.52;
(7) fire;
(8) flood;
(9) frost and freeze;
(10) hail;
(11) insurrection;
(12) invasion;
(13) lightning;
(14) military or usurped power;
(15) an order of a civil authority made to prevent the
spread of a conflagration, epidemic, or catastrophe;
(16) rain;
(17) riot;
(18) the rising of the waters of the ocean or its
tributaries;
(19) smoke or smudge;
(20) strike or lockout;
(21) tornado;
(22) vandalism or malicious mischief;
(23) volcanic eruption;
(24) water or other fluid or substance resulting from
the breakage or leakage of sprinklers, pumps, or other apparatus
erected for extinguishing fires, water pipes, or other conduits or
containers;
(25) weather or climatic conditions; or
(26) windstorm.
Added by Acts 2003, 78th Leg., ch. 1274, § 1, eff. April 1, 2005.
§ 252.004. 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 or other
periodic 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, § 1, eff. April 1, 2005.
