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Business Taxes Law Guide—Revision 2024
Tax on Insurers Law
Revenue and Taxation Code
Division 2. Other Taxes
Part 7. Insurance Taxation
Chapter 9. Disposition of Proceeds*
* Chapter 9 was added to Part 7 by Stats. 1961, p. 1993, operative January 1, 1962.
13151. Insurance Tax Fund. All taxes, interest, and penalties collected under this part shall be transmitted to the State Treasurer to be deposited in the State Treasury to the credit of the Insurance Tax Fund, which is hereby created. Upon transmitting moneys to the State Treasurer, the commissioner shall furnish the Controller with a record of the amounts transmitted and the insurers from whom the moneys have been received.
History—Added by Stats. 1961, p. 1993, operative January 1, 1962. Stats. 1966, p. 643 (First Extra Session), in effect October 6, 1966, deleted "shall be revenue of the fiscal year in which received and" from the first sentence.
13152. Disposition of fund. The money in the Insurance Tax Fund shall, upon order of the Controller, be drawn therefrom for refunds under this part or be transferred to the General Fund of the State.
History—Added by Stats. 1961, p. 1993, operative January 1, 1962.
13153. State Compensation Insurance Fund; payment. On or before the April 1st, the State Compensation Insurance Fund shall pay into the State Treasury to the credit of the Insurance Tax Fund the sum required under the provisions of Section 12203 of this code.
History—Added by Stats. 1961, p. 1993, operative January 1, 1962. Derived from former Section 12626. Stats. 1969, p. 1476, in effect August 14, 1969, operative January 1, 1970, substituted "April 1st" for "15th day of June".