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 individual high risk reinsurance pool established in chapter 55, title 41, Idaho Code.
(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.
[41-406, added 1984, ch. 23, sec. 3, p. 40; am. 1987, ch. 340, sec. 5, p. 723; am. 1993, ch. 118, sec. 1, p. 296; am. 1994, ch. 180, sec. 82, p. 481; am. 2000, ch. 64, sec. 1, p. 144; am. 2000, ch. 472, sec. 18, p. 1642; am. 2003, ch. 308, sec. 8, p. 848; am. 2012, ch. 158, sec. 1, p. 433; am. 2013, ch. 90, sec. 1, p. 221; am. 2016, ch. 361, sec. 1, p. 1067.]