Pennsylvania Statutes Title 72 P.S. Taxation and Fiscal Affairs § 7902.1. Credits for assessments paid

(a) A member insurer that has paid assessments to the guaranty association shall be entitled to a credit as authorized by this section.  The credit shall be equal to the amount by which the assessment paid to the guaranty association exceeds one per cent of the member insurer's assessment base.  Except as provided in subsection (e), the credit authorized by this section shall be applied against the taxes due under this article in equal portions for each of the five calendar years following payment of the assessment.  In the event a member insurer should cease doing business, all unused credits may be applied against its premium tax liability for the year it ceases doing business.  A member insurer is not entitled to a refund of any unused credit.

(b) Any sums which are acquired by a member insurer from the guaranty association either by refund or by receipt of an offset which may be used against an assessment and which have been used in calculating a credit under subsection (a) shall reduce the amount of unused credits or shall be paid by such insurer to the Commonwealth, as the Department of Revenue may require.  The guaranty association shall notify the department and the Insurance Commissioner that such sums have been acquired by the member insurer.

(c) No credit against premium tax liability shall be permitted to the extent that a member insurer's rates and premiums have been adjusted as permitted in section 1810 of the act of May 17, 1921 (P.L. 682, No. 284),  1 known as “The Insurance Company Law of 1921.”

(d) Deleted by 2022, July 8, P.L. 513, No. 53, § 7, imd. effective.

(e) Credits taken by an insurer under this section shall not be included in determining liability for retaliatory taxes imposed under section 212 of the act of May 17, 1921 (P.L. 789, No. 285),  2 known as “The Insurance Department Act of 1921.”