Tex. Ins. Code § 251.003

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.

Section 251.003 - Effect of Late Advisement of Rate

(a) Except as provided by Subsection (b), if the commissioner does not advise the comptroller of the applicable rate of assessment of a maintenance tax by the date required by Section 251.002, the rate of assessment is the rate applied in the previous tax period.

(b) If the commissioner advises the comptroller of the applicable rate of assessment of a maintenance tax after the tax has been assessed, the comptroller shall:

(1) advise each taxpayer in writing of the amount of any additional taxes due; or

(2) refund any excess taxes paid.

Tex. Ins. Code § 251.003

Added by Acts 2003, 78th Leg., ch. 1274, Sec. 1, eff. 4/1/2005.