2009 Kentucky Revised Statutes Subtitle 42. Kentucky Life and Health Insurance Guaranty Association 304.42.130 Offset of premium tax liability to state.
304.42-130 Offset of premium tax liability to state.
(1) A member insurer, other than a nonprofit hospital, medical, surgical, dental, or
health service corporation, may offset its tax liability to this state imposed against it <br>under KRS 136.320(3) and (4), 136.330, 136.340, or 136.350, whichever may be <br>applicable, against the assessment described in subsection (8) of KRS 304.42-090 to <br>the extent of twenty percent (20%) of the amount of the assessment for each of the <br>five (5) calendar years following the year in which the assessment was paid. If a <br>member insurer should cease doing business, all uncredited assessments may be <br>credited against its tax liability for the year in which it ceases doing business.
(2) Any sums acquired by refund, pursuant to KRS 304.42-090(6), from the association
which have theretofore been written off by contributing insurers and offset against <br>taxes as provided in this section, and are not then needed for purposes of this <br>subtitle, shall be paid by the association to the commissioner and by the <br>commissioner deposited with the State Treasurer for credit to the general fund of <br>this state.
Effective: July 15, 2010 <br>History: Amended 2010 Ky. Acts ch. 24, sec. 1567, effective July 15, 2010. --
Amended 1998 Ky. Acts ch. 233, sec. 5, effective July 15, 1998. -- Created 1978 Ky. <br>Acts ch. 282, sec. 13, effective June 17, 1978.
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