| (a) A foreign or alien captive insurance company redomesticating
from another jurisdiction may request that the commissioner postpone
or waive the imposition of any tax or fee under the Insurance Code
for a period not to exceed two tax reporting years from the date of
redomestication.
(b) The request must be in writing and submitted to
the department with the application.
(c) The request must state and provide support of the
benefit that licensing the captive insurance company will have for
Texas, including, as applicable, employment of Texas residents, the
development of real estate in Texas, economic activity in Texas, and
additional taxes that will be paid in Texas.
(d) The commissioner may in writing grant or deny the
waiver request in whole or in part at the commissioner's sole discretion,
including granting a waiver for all or part of the two-year period
and all or part of one or more of the following taxes or fees:
(1) the maintenance tax;
(2) the premium tax; or
(3) licensing fees.
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