Bill Text: TX HB2366 | 2023-2024 | 88th Legislature | Comm Sub
Bill Title: Relating to the applicability of premium and maintenance taxes to the Texas Windstorm Insurance Association.
Spectrum: Slight Partisan Bill (Democrat 2-1)
Status: (Engrossed - Dead) 2023-05-22 - Placed on intent calendar [HB2366 Detail]
Download: Texas-2023-HB2366-Comm_Sub.html
| By: Thompson of Brazoria | H.B. No. 2366 | |
| (Senate Sponsor - LaMantia) | ||
| (In the Senate - Received from the House May 3, 2023; | ||
| May 5, 2023, read first time and referred to Committee on Business & | ||
| Commerce; May 17, 2023, reported favorably by the following vote: | ||
| Yeas 9, Nays 0; May 17, 2023, sent to printer.) | ||
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| relating to the applicability of premium and maintenance taxes to | ||
| the Texas Windstorm Insurance Association. | ||
| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
| SECTION 1. Section 221.001(b), Insurance Code, is amended | ||
| to read as follows: | ||
| (b) This chapter does not apply to: | ||
| (1) a fraternal benefit society, including a fraternal | ||
| benefit society operating under Chapter 885; | ||
| (2) a group hospital service corporation operating | ||
| under Chapter 842; | ||
| (3) a stipulated premium company operating under | ||
| Chapter 884; | ||
| (4) a mutual assessment association, company, or | ||
| corporation regulated under Chapter 887; | ||
| (5) a purely cooperative or mutual fire insurance | ||
| company carried on by its members solely for the protection of their | ||
| own property and not for profit, except as provided by Section | ||
| 221.002(b)(13); [ |
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| (6) a farm mutual insurance company operating under | ||
| Chapter 911, unless the company is acting as a fronting insurer; or | ||
| (7) the Texas Windstorm Insurance Association. | ||
| SECTION 2. Section 252.005, Insurance Code, is amended to | ||
| read as follows: | ||
| Sec. 252.005. EXCEPTION. This chapter does not apply to: | ||
| (1) a farm mutual insurance company operating under | ||
| Chapter 911, unless the company is acting as a fronting insurer as | ||
| defined by Section 221.001(c); [ |
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| (2) a mutual insurance company engaged in business | ||
| under Chapter 12, Title 78, Revised Statutes, before that chapter's | ||
| repeal by Section 18, Chapter 40, Acts of the 41st Legislature, 1st | ||
| Called Session, 1929, as amended by Section 1, Chapter 60, General | ||
| Laws, Acts of the 41st Legislature, 2nd Called Session, 1929, that | ||
| retains the rights and privileges under the repealed law to the | ||
| extent provided by those sections; or | ||
| (3) the Texas Windstorm Insurance Association. | ||
| SECTION 3. The changes in law made by this Act do not affect | ||
| tax liability accruing before the 2023 calendar year. That | ||
| liability continues in effect as if this Act had not been enacted, | ||
| and the former law is continued in effect for the collection of | ||
| taxes due and for enforcement of the liability for those taxes. | ||
| SECTION 4. This Act takes effect September 1, 2023. | ||
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