Tex. Ins. Code Section 261.003
Maximum Rate; Annual Adjustment

(a)

The rate of assessment set by the commissioner may not exceed one percent of the gross premiums subject to taxation under Section 261.004 (Premiums Subject to Taxation).

(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 Chapter 2204 (Texas Insurance Exchange).
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 1, eff. April 1, 2005.
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 730 (H.B. 2636), Sec. 2C.008, eff. April 1, 2009.

Source: Section 261.003 — Maximum Rate; Annual Adjustment, https://statutes.­capitol.­texas.­gov/Docs/IN/htm/IN.­261.­htm#261.­003 (accessed Jun. 5, 2024).

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Accessed:
Jun. 5, 2024

§ 261.003’s source at texas​.gov