Administrative Penalty

Sec. 228.303. ADMINISTRATIVE PENALTY. (a) The comptroller may impose an administrative penalty on a certified capital company that violates this chapter. (b) The amount of the penalty may not exceed $25,000. Each day a violation continues or occurs is a separate violation for the purpose of imposing the penalty. The amount of the penalty shall be based on: (1) the seriousness of the violation, including the nature, circumstances, extent, and gravity of the violation; (2) the economic harm caused by the violation; (3) the history of previous violations; (4) the amount necessary to deter a future violation; (5) efforts to correct the violation; and (6) any other matter that justice may require. (c) A certified capital company assessed a penalty under this chapter may request a redetermination as provided by Chapter 111, Tax Code. (d) The attorney general may sue to collect the penalty. (e) A proceeding to impose the penalty is a contested case under Chapter 2001, Government Code. Added by Acts 2007, 80th Leg., R.S., Ch. 730 (H.B. 2636), Sec. 1B.001, eff. April 1, 2009. SUBCHAPTER H. RECAPTURE AND FORFEITURE OF PREMIUM TAX CREDITS