HRS §431:16-213
Credits for assessments paid
This section lets insurance companies that pay into the state insurance guaranty fund reduce their Hawaii premium taxes by part of what they paid, over several years. If they stop doing business, they can use all remaining credits at once. Any refunds from the fund must go back to the state.
businesses
The statute, as written — Credits for assessments paid
(a) A member insurer may offset against its premium tax liability (or liabilities) to this State an assessment described in section 431:16-209(h) to the extent of twenty per cent of the amount of such assessment for each of the five calendar years following the year in which such assessment was paid. In the event a member insurer should cease doing business, all uncredited assessments may be credited against its premium tax liability (or liabilities) for the year it ceases doing business. (b) Any sums which are acquired by refund, pursuant to section 431:16-209(f), from the association by member insurers, and which have theretofore been offset against premium taxes as provided in subsection (a) shall be paid by the association to the commissioner and by the commissioner deposited with the state director of finance for credit to the general fund of this State.
Sections this one refers to
§431:16-209 How member insurers are assessed and can protest
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