Sec. 228.252. LIMIT ON PREMIUM TAX CREDIT. (a) The credit to be applied against state premium tax liability of a certified investor in any one year may not exceed the state premium tax liability of the investor for the taxable year.
(b) A certified investor may carry forward any unused credit against state premium tax liability indefinitely until the premium tax credits are used.
Added by Acts 2007, 80th Leg., R.S., Ch. 730 (H.B. 2636), Sec. 1B.001, eff. April 1, 2009.
Structure Texas Statutes
Title 3 - Department Funds, Fees, and Taxes
Subtitle B - Insurance Premium Taxes
Chapter 228 - Premium Tax Credit for Certain Investments
Subchapter F. Premium Tax Credit
Section 228.251. Premium Tax Credit
Section 228.252. Limit on Premium Tax Credit
Section 228.253. Premium Tax Credit Allocation Claim Required
Section 228.254. Total Limit on Premium Tax Credits
Section 228.255. Allocation of Premium Tax Credit
Section 228.256. Treatment of Credits and Capital
Section 228.257. Transferability of Credit
Section 228.258. Impact of Premium Tax Credit on Insurance Ratemaking