{"data":{"id":"us-ok/okla.-stat.-tit.-36-36-624.3","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 36, § 36-624.3","heading":"Refund of adverse economically targeted and home office","body":"credit deductions.\n\nA. As used in this section:\n\n1. “Economically targeted credits” means any credit against the\n\ninsurance premium tax other than the home office credits;\n\n2. “Home office credits” means the credits against insurance\n\npremium tax authorized pursuant to Section 625.1 of this title;\n\n3. “Insurance premium tax” means those levies imposed pursuant\n\nto Sections 624 and 628 of this title; and\n\n4. “Insurance premium tax liabilities” means the total\n\nliability of any insurance company created by the insurance premium\n\ntax.\n\nB. Any taxpayer adversely affected by a requirement of the\n\nOklahoma Insurance Department for deducting home office credits\n\nafter the deduction of economically targeted credits in computation\n\nof the taxpayer’s insurance premium tax liabilities for the period\n\nJanuary 2003, through December 2006, shall be granted a refund,\n\npursuant to the provisions of Section 624.2 of this title, for the\n\ndifference between the insurance premium tax liability as it would\n\nhave been computed had the home office credit been deducted prior to\n\neconomically targeted credits and the insurance premium tax\n\nliability as it was actually computed for such periods.\n\nC. The provisions of this section shall be deemed sufficient\n\ngrounds for the granting of a refund claim pursuant to subsection C\n\nof Section 624.2 of this title.\n\nD. No refund otherwise payable pursuant to the provisions of\n\nthis section shall be paid to a claimant prior to July 1, 2007.\n\nE. Refunds paid on or after July 1, 2007, pursuant to the\n\nprovisions of this section shall only be paid from those insurance\n\npremium taxes and fees that would be apportioned to the General\n\nRevenue Fund of the State Treasury. No refund otherwise payable\n\npursuant to the provisions of this section shall be paid from\n\ninsurance premium taxes or fees that would be apportioned to the\n\nOklahoma Firefighters Pension and Retirement Fund, the Oklahoma\n\nPolice Pension and Retirement System or the Law Enforcement\n\nRetirement Fund.\n\nF. Any and all premium tax credits to be utilized or recovered\n\nin a subsequent year are fully admitted as an asset to the insurer\n\nowning or generating said credits.","path":["OK Code","Title 36"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os36.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"66f1a7bce6479fca1657bc816c708594ca91778e26995af1bb20b41087c2eedf","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-36-36-624.2","next":"us-ok/okla.-stat.-tit.-36-36-625"},"notice":"GroundRules: Original legal text. Not legal advice."}