41-4313. CREDITS FOR ASSESSMENTS PAID. (1) A member insurer may offset against its premium tax liability to this state an assessment described in section 41-4309(8), Idaho Code, to the extent of twenty percent (20%) of the amount of the assessment for each of five (5) calendar years beginning with the premium tax due under section 41-402(4), Idaho Code, with respect to the year of payment of the assessment and thereafter with the premium tax due under section 41-402(4), Idaho Code, during each of the four (4) succeeding years. An allowable offset, or portion thereof, not used in any calendar year cannot be carried over or back to any other year.
(2) Any sums acquired by refund, pursuant to section 41-4309(6), Idaho Code, from the association which have theretofore been written off by contributing insurers and offset against premium taxes as provided in subsection (1) of this section, and are not then needed for purposes of this chapter, shall be paid by the association to the director and by him deposited with the state treasurer for credit to the general account of the state operating fund.
History:
[41-4313, added 2011, ch. 196, sec. 2, p. 575; am. 2013, ch. 265, sec. 2, p. 650.]
Structure Idaho Code
Chapter 43 - IDAHO LIFE AND HEALTH INSURANCE GUARANTY ASSOCIATION ACT
Section 41-4301 - SHORT TITLE.
Section 41-4303 - COVERAGE AND LIMITATIONS.
Section 41-4304 - CONSTRUCTION.
Section 41-4305 - DEFINITIONS.
Section 41-4306 - CREATION OF THE ASSOCIATION.
Section 41-4307 - BOARD OF DIRECTORS.
Section 41-4308 - POWERS AND DUTIES OF THE ASSOCIATION.
Section 41-4309 - ASSESSMENTS.
Section 41-4310 - PLAN OF OPERATION.
Section 41-4311 - DUTIES AND POWERS OF THE DIRECTOR.
Section 41-4312 - PREVENTION OF INSOLVENCIES.
Section 41-4313 - CREDITS FOR ASSESSMENTS PAID.
Section 41-4314 - MISCELLANEOUS PROVISIONS.
Section 41-4315 - EXAMINATION OF THE ASSOCIATION –- ANNUAL REPORT.
Section 41-4316 - TAX EXEMPTIONS.
Section 41-4318 - STAY OF PROCEEDING –- REOPENING DEFAULT JUDGMENTS.