2005 Idaho Code - 41-406 — DEPOSIT AND REPORT OF FEES, LICENSES AND TAXES

                                  TITLE  41
                                  INSURANCE
                                  CHAPTER 4
                                FEES AND TAXES
    41-406.  DEPOSIT AND REPORT OF FEES, LICENSES AND TAXES. (1) The director
shall transmit all taxes, fines and penalties collected by him to the state
treasurer as provided under section 59-1014, Idaho Code. The director shall
file with the state controller a statement of each deposit thus made. All such
funds received shall be deposited into the department of insurance suspense
account.
    Such funds shall be distributed as follows:
    (a)  The director may deposit up to twenty percent (20%) of the funds
    received in the insurance refund account which is hereby created for the
    purpose of repaying overpayments of any taxes, fines, and penalties or
    other erroneous receipts. There is hereby appropriated out of the
    insurance refund account so much thereof as shall be necessary for the
    payment of refunds. Any unencumbered balance remaining in the insurance
    refund account on June 30 of each and every year in excess of forty
    thousand dollars ($40,000) shall be transferred to the general fund and
    the state controller is hereby authorized and directed on such dates to
    make such transfers unless the board of examiners, which is hereby
    authorized to do so, changes the date of transfer or sum to be
    transferred.
    (b)  That portion of the premium tax, payable to the public employee
    retirement fund as provided in section 59-1394, Idaho Code, shall be
    distributed to that fund.
    (c)  That portion of the premium tax necessary to cover administrative
    costs incurred by the department in placing insurance companies or any
    other insurance entities into receivership or under administrative
    supervision, and such costs cannot be satisfied from the assets of these
    companies or entities, shall be distributed to the insurance insolvency
    administrative fund which is hereby created. There is hereby appropriated
    out of the insurance insolvency administrative fund so much thereof as
    shall be necessary, but not to exceed two hundred thousand dollars
    ($200,000) in any one (1) fiscal year, for the payment of the department's
    administrative expenses incurred in carrying out such receiverships or
    supervision. A balance of one hundred thousand dollars ($100,000) shall be
    maintained in this fund on June 30 of each year.
    (d)  After all other deductions authorized in this section have been made,
    if the premium tax remaining exceeds forty-five million dollars
    ($45,000,000), one-fourth (1/4) of such excess is hereby appropriated and
    shall be paid to the Idaho high risk individual reinsurance pool
    established in chapter 55, title 41, Idaho Code, and one-fourth (1/4) of
    such excess above fifty-five million dollars ($55,000,000) is hereby
    appropriated and shall be paid to the Idaho health insurance access card
    fund, established in section 56-242, Idaho Code, with eighty percent (80%)
    of such moneys to be appropriated to the CHIP Plan B subaccount and the
    children's access card program subaccount and twenty percent (20%) of such
    moneys, not to exceed one million two hundred thousand dollars
    ($1,200,000) per year, to be appropriated to the small business health
    insurance pilot program subaccount.
    (e)  The balance of the premium tax, fines and penalties shall be
    distributed to the general fund of the state of Idaho.
    (f)  All moneys received for fees, licenses and miscellaneous charges
    collected shall be distributed to the insurance administrative account.
    (2)  The director shall make and file with the state controller an
itemized statement of the fees, licenses, taxes, fines and penalties collected
by him during the preceding month, and shall deliver a certified copy of the
statement to the state treasurer.