WVC 29 - 12 - 13
§29-12-13. Premium tax liability.
Notwithstanding any other provision of this code to the
contrary, the amount of any gross direct premiums attributable to
a policy or contract of insurance entered into with the board of
risk and insurance management shall be separately reported on the
annual financial statement of the insurer. These gross direct
premiums so reported may not be subject to the tax imposed on gross
direct premiums pursuant to article three, chapter thirty-three of
this code. The provisions of this section shall be effective upon
passage and shall apply to any amount of premium tax owed and not
yet paid upon the effective date of this section. When any
spending unit makes payment to the board of risk and insurance
management for payment of premiums attributable to a policy or
contract of insurance after the effective date of this section, an
amount equal to the amount of gross premium tax attributable to the
amount of the premium shall be paid to the board: Provided,
these amounts shall be deposited in a special revenue account
hereby created known as the "Premium Tax Savings Fund".
Expenditures from the fund shall not be made from collections but
shall only be made in accordance with appropriation by the
Note: WV Code updated with legislation passed through the 2014 1st Special Session
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