83-34-39 - Deposit of monies into Mississippi Windstorm Underwriting Association Reinsurance Assistance Fund [Repealed effective July 1, 2010].
§ 83-34-39. Deposit of monies into Mississippi Windstorm Underwriting Association Reinsurance Assistance Fund [Repealed effective July 1, 2010].
(1) Beginning with fiscal year 2007 through fiscal year 2010, the State Tax Commission shall annually deposit from insurance premium tax revenue collected by it under the provisions of Section 27-15-103 et seq. an amount of Twenty Million Dollars ($20,000,000.00) for each fiscal year into the special fund created in Section 83-34-37. Each billing statement for essential property insurance written under Section 83-34-1 et seq. shall clearly indicate that by action of the Legislature, during the 2007 Regular Session, Twenty Million Dollars ($20,000,000.00) is deposited annually for four (4) years into the Mississippi Windstorm Underwriting Association Reinsurance Assistance Fund for the purpose of reducing the premium rates charged for insuring property through the association.
(2) This section shall stand repealed from and after July 1, 2010.
Sources: Laws, 2007, ch. 425, § 3, eff from and after passage (approved Mar. 22, 2007.)