Bill Text: TX HB1990 | 2017-2018 | 85th Legislature | Enrolled

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Bill Title: Relating to the administration of the Texas certified self-insurer guaranty trust fund.

Sponsorship: Slight Partisan Bill (Democrat 2-1)

Status: (Passed) 2017-06-15 - Effective on 9/1/17 [HB1990 Detail]

Download: Texas-2017-HB1990-Enrolled.html

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H.B. No. 1990

AN ACT
relating to the administration of the Texas certified self-insurer
guaranty trust fund.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Sections 407.126(a) and (b), Labor Code, are
amended to read as follows:
(a) Each member of the association shall be assessed an
annual [a] fee, based on total amount of income benefits payments
made in this state for the preceding reported calendar year, to
maintain [create, over a period of 10 years beginning January 1,
1993,] a Texas certified self-insurer guaranty trust fund of at
least $2 [$1] million for the emergency payment of the compensation
liabilities of an impaired employer. The fund may not exceed three
percent of the combined value of the security deposits of all
certified self-insurers [$2 million].
(b) The board of directors shall submit to the commissioner
for approval a recommended balance of the trust fund. On approval
by the commissioner of the recommended balance, the board of
directors shall adopt a year-by-year schedule of assessments to
meet the [10-year] funding goal of the [trust] fund.
SECTION 2. This Act takes effect September 1, 2017.
______________________________ ______________________________
President of the Senate Speaker of the House
I certify that H.B. No. 1990 was passed by the House on April
27, 2017, by the following vote: Yeas 143, Nays 1, 3 present, not
voting.
______________________________
Chief Clerk of the House
I certify that H.B. No. 1990 was passed by the Senate on May
24, 2017, by the following vote: Yeas 31, Nays 0.
______________________________
Secretary of the Senate
APPROVED: _____________________
Date
_____________________
Governor