Bill Text: TX HB2972 | 2013-2014 | 83rd Legislature | Comm Sub
NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: Relating to exempting premiums for certain insurance covering stored or in-transit baled cotton from surplus lines insurance premium taxes.
Spectrum: Partisan Bill (Republican 2-0)
Status: (Passed) 2013-06-14 - Effective on 1/1/14 [HB2972 Detail]
Download: Texas-2013-HB2972-Comm_Sub.html
Bill Title: Relating to exempting premiums for certain insurance covering stored or in-transit baled cotton from surplus lines insurance premium taxes.
Spectrum: Partisan Bill (Republican 2-0)
Status: (Passed) 2013-06-14 - Effective on 1/1/14 [HB2972 Detail]
Download: Texas-2013-HB2972-Comm_Sub.html
83R24493 SCL-D | |||
By: King of Hemphill | H.B. No. 2972 | ||
Substitute the following for H.B. No. 2972: | |||
By: Hilderbran | C.S.H.B. No. 2972 |
|
||
|
||
relating to exempting premiums for certain insurance covering | ||
stored or in-transit baled cotton from surplus lines insurance | ||
premium taxes. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Section 225.004, Insurance Code, is amended by | ||
adding Subsection (g) to read as follows: | ||
(g) Premiums on risks or exposures under ocean marine | ||
insurance coverage of stored or in-transit baled cotton for export | ||
are not subject to the tax imposed by this chapter. | ||
SECTION 2. The change in law made by this Act does not | ||
affect tax liability accruing before the effective date of this | ||
Act. That liability continues in effect as if this Act had not been | ||
enacted, and the former law is continued in effect for the | ||
collection of taxes due and for civil and criminal enforcement of | ||
the liability for those taxes. | ||
SECTION 3. This Act takes effect January 1, 2014. |