Section 1502-A. Tax on non-life insurance corporations

In lieu of the tax
  imposed by section fifteen hundred one of this article,  every  domestic
  insurance  corporation,  every  foreign  insurance corporation and every
  alien insurance corporation, other than  such  corporations  transacting
  the  business  of life insurance, (1) authorized to transact business in
  this state under a certificate of authority from the  superintendent  of
  insurance,  (2)  that is a risk retention group as defined in subsection
  (n) of section five thousand nine hundred two of the insurance  law,  or
  (3)  that  is  a  health  maintenance  organization required to obtain a
  certificate of authority under article forty-four of the  public  health
  law,  shall, for the privilege of exercising corporate franchises or for
  carrying on business in a corporate or organized  capacity  within  this
  state,  and  in  addition to any other taxes imposed for such privilege,
  pay a tax on all gross direct premiums, less  return  premiums  thereon,
  written  on  risks located or resident in this state. The tax imposed by
  this section shall be computed in the manner set  forth  in  subdivision
  (a)  of  section fifteen hundred ten of this article as such subdivision
  applied to taxable years beginning before January  first,  two  thousand
  three,  except that the rate of tax imposed by this section shall be one
  and seventy-five hundredths percent on all gross direct  premiums,  less
  return  premiums  thereon,  for accident and health insurance contracts,
  including contracts with health  maintenance  organizations  for  health
  services,  and  two  percent  on  all other such premiums. All the other
  provisions in section fifteen hundred ten of  this  article  as  amended
  from  time  to  time,  other than subdivision (b) of such section, shall
  apply to the tax imposed by this section. In  no  event  shall  the  tax
  imposed under this section be less than two hundred fifty dollars.