Member insurers assessed a percentage of net direct written premiums for any preceding calendar year, as provided in §56-12-107(a)(3), shall be allowed a credit against premium taxes imposed on such member insurers by §56-4-205, up to twenty-five percent (25%) of the net premium taxes due in any one (1) calendar year until the aggregate of all assessments paid to the guaranty association has been offset by such premium tax credits. The guaranty association shall certify to the commissioner on an annual basis the names of the member insurers and the assessments paid. The provisions herein are applicable to all insolvencies occurring after April 28, 1975; provided, that only premium taxes paid on and after March 1977, will be subject to credit as herein provided.