Pennsylvania Statutes Title 72 P.S. Taxation and Fiscal Affairs § 8806-F. Use of tax credits by qualified taxpayers

(1) A qualified taxpayer may not be required to reduce the amount of insurance premiums tax included by the taxpayer in connection with ratemaking for any insurance contract written in this Commonwealth because of a reduction of the taxpayer's insurance premiums tax liability derived from the tax credit purchased under this article.

(2) If, under the insurance laws of this Commonwealth, the assets of the qualified taxpayer are examined or considered, the taxpayer's balance of tax credits shall be treated as an admitted asset subject to the same financial rating as held by the Commonwealth.

(1) The total amount of tax credits applied against insurance premiums tax liability by all qualified taxpayers in a fiscal year may not exceed $20,000,000 per year beginning in calendar year 2017.

(2) The credit to be applied in any one year may not exceed the insurance premiums tax liability of the qualified taxpayer for that taxable year.