US Laws, Codes, Statutes & Cases

                                  TITLE  41
                                  INSURANCE
                                  CHAPTER 36
                        INSURANCE GUARANTY ASSOCIATION
    41-3616.  CREDITS FOR ASSESSMENTS PAID. (1) A member insurer may offset
against its premium tax liability to this state under section 41-402, Idaho
Code, an assessment described in subsection (1)(d) of section 41-3608, Idaho
Code. An insurer that is exempt from the premium tax imposed by section
41-402, Idaho Code, may offset its premium tax liability to the industrial
administration fund. An offset is allowable to the extent of twenty percent
(20%) of the amount of such assessment for each of the five (5) calendar years
following the year in which such assessment was paid. An allowable offset, or
portion thereof, not used in any calendar year cannot be carried over or back
to any other year.
    (2)  Notwithstanding any provision to the contrary in section
41-3608(2)(f), Idaho Code, any sums acquired by refund from insurance company
receiverships by the association which have heretofore been written off by
contributing insurers and offset against premium taxes as provided in
subsection (1) of this section, and which, in the opinion of the board of
directors, will not be needed for the purposes of this chapter within two (2)
years from the date the association receives the refund from the receivership,
shall be paid by the association to the director and by him deposited with the
state treasurer for credit to the state general fund.