§ 35-9-628 — Deposit of tax on fire insurance premiums into account

Wyoming § 35-9-628

• Jurisdiction: Wyoming
• Title 35: Public Health and Safety
• Ch. 9: FIRE PROTECTION
• Art. 6: VOLUNTEER FIREFIGHTER, EMT AND SEARCH AND RESCUE

Text

(a) As provided in this subsection, the state treasurer
shall deposit into the account up to one hundred percent (100%)
of the gross tax levied upon fire insurance premiums paid to
insurance companies for fire insurance in the state of Wyoming
for the preceding calendar quarter, as computed under W.S. 26-4-
102(b)(ii) and provided by W.S. 26-4-103(k). The sum specified
shall be calculated by the Wyoming retirement system:
(i) Before giving effect to any premium tax credits
which may otherwise be provided by law; and
(ii) To achieve one hundred seven percent (107%)
funding of the account, taking into account the benefits and
employee contribution specified in W.S. 35-9-621 and actuarial
assumptions adopted by the Wyoming retirement board;
(iii) After the account achieves one hundred seven
percent (107%) actuarial funding, the board shall recommend a
funding amount of not less than sixty percent (60%) of the gross
tax levied upon fire insurance premiums. A recommended funding
amount under this section in an amount greater than sixty
percent (60%) which results in an actuarial funding level
greater than one hundred seven percent (107%) requires approval
of the legislature.