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Business Taxes Law Guide – Revision 2023
Tax on Insurers Law
Revenue and Taxation Code
Division 2. Other Taxes
Part 7. Insurance Taxation
Chapter 7. Cancellations and Refunds*
Article 2. Refund or Credit for Collected Taxes²
Section 12984
12984. Disallowance of interest. [Repealed by Stats. 2013, Ch. 33 (SB 78) in effect June 27, 2013.]
Text of Section Operative July 1, 2012, Through June 30, 2013
12984. Disallowance of interest. (a) If the board determines that any overpayment has been made intentionally or made not incident to a bona fide and orderly discharge of a liability reasonably assumed by the insurer, surplus line broker, or Medi-Cal managed care plan to be imposed by law, no interest shall be allowed on the overpayment.
(b) If any insurer, surplus line broker, or Medi-Cal managed care plan that has filed a claim for refund requests the board to defer action on its claim, the board, as a condition to deferring action, may require the claimant to waive interest for the period during which the insurer, surplus line broker, or Medi-Cal managed care plan requests the board to defer action on the claim.
(c) This section shall be operative on July 1, 2012, and become inoperative on July 1, 2013. As of January 1, 2015, this section shall be repealed.
History—Added by Stats., 2013, Ch. 33 (SB 78), in effect June 27, 2013, but operative July 1, 2012.
Text of Section Operative July 1, 2013
12984. Disallowance of interest. (a) If the board determines that any overpayment has been made intentionally or made not incident to a bona fide and orderly discharge of a liability reasonably assumed by the insurer or surplus line broker to be imposed by law, no interest shall be allowed on the overpayment.
(b) If any insurer or surplus line broker which has filed a claim for refund requests the board to defer action on its claim, the board, as a condition to deferring action, may require the claimant to waive interest for the period during which the insurer or surplus line broker requests the board to defer action on the claim.
(c) This section shall become operative on July 1, 2013.
History—Added by Stats., 2013, Ch. 33 (SB 78), in effect June 27, 2013, but operative July 1, 2013.
* Stats. 1961, p. 1990, operative January 1, 1962, amended the title of Chapter 7 from "corrections" to "cancellations and refunds".
² Stats. 1961, p. 1990, operative January 1, 1962, amended the title of Article 2 from "Credit for Collected Taxes" to "Refund or Credit for Collected Taxes".