La. Admin. Code tit. 37 § XIII-9503
Current through Register Vol. 50, No. 11, November 20, 2024
Section XIII-9503 - PurposeA. The purpose of this regulation is to implement the provisions of Acts 2004, No. 770 of the Louisiana Legislature, Regular Session, as well as to implement the amendment thereto as set forth in Acts 2005, No 408 of the Louisiana Legislature, Regular Session. The original law created an insurance premium discount program for active military personnel based in Louisiana. The amendment creates a program whereby an insurer is entitled to a tax credit against the premium taxes imposed under R.S. 22:838 and R.S. 22:831 for the amount of the military discount provided to qualified active military personnel for the liability portion of their personal automobile liability policy. Both laws require the commissioner to adopt a regulation to implement the military discount program and to develop procedures for an insurer to follow to claim a tax credit and for other related matters.La. Admin. Code tit. 37, § XIII-9503
Promulgated by the Department of Insurance, Office of the Commissioner, LR 31:673 (March 20, 2005), amended LR 32:94 (January 2006), Amended by LR 461572 (11/1/2020).AUTHORITY NOTE: Promulgated in accordance with R.S. 22:11 and R.S. 22:1482.