83R7952 CLG-F
	By: Thompson of Harris	H.B. No. 2081

	A BILL TO BE ENTITLED
	AN ACT
	relating to the exemption of certain property from seizure by
	creditors.
	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
	SECTION 1.  Section 1108.052, Insurance Code, is amended to
	read as follows:
	Sec. 1108.052.  EXEMPTIONS UNAFFECTED BY BENEFICIARY
	DESIGNATION. The exemptions provided by Section 1108.051 apply
	regardless of whether:
	(1)  the power to change the beneficiary is reserved to
	the insured; or
	(2)  the insured or the insured's estate is a
	[contingent] beneficiary.
	SECTION 2.  Sections 42.0021(a) and (b), Property Code, are
	amended to read as follows:
	(a)  In addition to the exemption prescribed by Section
	42.001, a person's right to the assets held in or to receive
	payments, whether vested or not, under any stock bonus, pension,
	annuity, deferred compensation, profit-sharing, or similar plan,
	including a retirement plan for self-employed individuals, or a
	simplified employee pension plan, an individual retirement account
	or individual retirement annuity, including an inherited
	individual retirement account, [or] individual retirement annuity,
	Roth IRA, or inherited Roth IRA, or a health savings account, and
	under any annuity or similar contract purchased with assets
	distributed from that type of plan or account, is exempt from
	attachment, execution, and seizure for the satisfaction of debts to
	the extent the plan, contract, annuity, or account is exempt from
	federal income tax, or to the extent federal income tax on the
	person's interest is deferred until actual payment of benefits to
	the person under Section 223, 401(a), 403(a), 403(b), 408(a), 408A,
	457(b), or 501(a), Internal Revenue Code of 1986, including a
	government plan or church plan described by Section 414(d) or (e),
	Internal Revenue Code of 1986.  For purposes of this subsection,
	the interest of a person in a plan, annuity, account, or contract
	acquired by reason of the death of another person, whether as an
	owner, participant, beneficiary, survivor, coannuitant, heir, or
	legatee, is exempt to the same extent that the interest of the
	person from whom the plan, annuity, account, or contract was
	acquired was exempt on the date of the person's death.  If this
	subsection is held invalid or preempted by federal law in whole or
	in part or in certain circumstances, the subsection remains in
	effect in all other respects to the maximum extent permitted by law.
	(b)  Contributions to an individual retirement account[,
	other than contributions to a Roth IRA described in Section 408A,
	Internal Revenue Code of 1986, or an annuity] that exceed the
	amounts permitted [deductible] under the applicable provisions of
	the Internal Revenue Code of 1986 and any accrued earnings on such
	contributions are not exempt under this section unless otherwise
	exempt by law.  Amounts qualifying as nontaxable rollover
	contributions under Section 402(a)(5), 403(a)(4), 403(b)(8), or
	408(d)(3) of the Internal Revenue Code of 1986 before January 1,
	1993, are treated as exempt amounts under Subsection (a).  Amounts
	treated as qualified rollover contributions under Section 408A,
	Internal Revenue Code of 1986, are treated as exempt amounts under
	Subsection (a).  In addition, amounts qualifying as nontaxable
	rollover contributions under Section 402(c), 402(e)(6), 402(f),
	403(a)(4), 403(a)(5), 403(b)(8), 403(b)(10), 408(d)(3), or 408A of
	the Internal Revenue Code of 1986 on or after January 1, 1993, are
	treated as exempt amounts under Subsection (a).  Amounts
	qualifying as nontaxable rollover contributions under Section
	223(f)(5) of the Internal Revenue Code of 1986 on or after January
	1, 2004, are treated as exempt amounts under Subsection (a).
	SECTION 3.  The changes in law made by this Act do not apply
	to property that is, as of the effective date of this Act, subject
	to a voluntary bankruptcy proceeding or to a valid claim of a holder
	of a final judgment who has, by levy, garnishment, or other legal
	process, obtained rights superior to those that would otherwise be
	held by a trustee in bankruptcy if a bankruptcy petition were then
	pending against the debtor. That property is subject to the law as
	it existed immediately before the effective date of this Act, and
	the prior law is continued in effect for that purpose.
	SECTION 4.  This Act takes effect September 1, 2013.