Texas Insurance Code - Section 254.002. Maximum Rate; Annual Adjustment
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§ 254.002. MAXIMUM RATE; ANNUAL ADJUSTMENT. (a) The
rate of assessment set by the commissioner may not exceed 0.2
percent of the gross premiums subject to taxation under Section
254.003.
(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 motor vehicle
insurance.
Added by Acts 2003, 78th Leg., ch. 1274, § 1, eff. April 1, 2005.
Section: 252.004 252.005 253.001 253.002 253.003 253.004 254.001 254.002 254.003 254.004 255.001 255.002 255.003 255.004 256.001
Last modified: August 11, 2007
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