Bill Text: TX HB4859 | 2023-2024 | 88th Legislature | Introduced
Bill Title: Relating to discontinuing group self-insurance coverage and dissolving the Texas self-insurance group guaranty fund and trust fund under the Texas Workers' Compensation Act.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2023-04-17 - Left pending in committee [HB4859 Detail]
Download: Texas-2023-HB4859-Introduced.html
| 88R8266 KKR-F | ||
| By: Shine | H.B. No. 4859 | |
|
|
||
|
|
||
| relating to discontinuing group self-insurance coverage and | ||
| dissolving the Texas self-insurance group guaranty fund and trust | ||
| fund under the Texas Workers' Compensation Act. | ||
| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
| SECTION 1. Subchapter B, Chapter 407A, Labor Code, is | ||
| amended by adding Section 407A.0521 to read as follows: | ||
| Sec. 407A.0521. NEW CERTIFICATES OF APPROVAL PROHIBITED. | ||
| (a) Notwithstanding Section 407A.052, the commissioner may not | ||
| issue a certificate of approval to a proposed group on or after | ||
| September 1, 2023. | ||
| (b) The commissioner may amend a certificate of approval | ||
| issued to a group before September 1, 2023. | ||
| SECTION 2. Subchapter J, Chapter 407A, Labor Code, is | ||
| amended by adding Section 407A.4561 to read as follows: | ||
| Sec. 407A.4561. REVISED PLAN OF OPERATION: WIND DOWN. (a) | ||
| In this section, "qualified group" means a group that: | ||
| (1) holds a current certificate of approval under this | ||
| chapter; and | ||
| (2) has not been determined by the commissioner to be | ||
| insolvent under Section 407A.355. | ||
| (b) The board shall submit to the commissioner for approval | ||
| a revised plan of operation to wind down and dissolve the guaranty | ||
| fund and trust fund. The plan must include: | ||
| (1) steps for: | ||
| (A) distributing any remaining money in the | ||
| guaranty fund and trust fund to qualified groups; and | ||
| (B) notifying interested parties; and | ||
| (2) an estimated timeline for the wind down. | ||
| (c) The commissioner shall approve the board's revised plan | ||
| of operation if the commissioner determines that the plan | ||
| sufficiently describes the actions the board will take to wind down | ||
| and dissolve the guaranty fund and trust fund. | ||
| (d) The board shall: | ||
| (1) implement the revised plan of operation approved | ||
| under Subsection (b); and | ||
| (2) provide written notice to the commissioner of the | ||
| completion of the wind down not later than the 30th day after the | ||
| date of completion. | ||
| (e) Not later than the 30th day after the date the | ||
| commissioner receives the board's notice under Subsection (d), the | ||
| commissioner shall determine whether the guaranty fund has met its | ||
| obligations under the approved revised plan of operation. If the | ||
| commissioner determines that the guaranty fund met the fund's | ||
| obligations, the commissioner shall issue an order requiring the | ||
| distribution of any remaining money in the guaranty fund and trust | ||
| fund to qualified groups. | ||
| (f) On the 30th day after the date the commissioner issues | ||
| the order under Subsection (e): | ||
| (1) the guaranty fund and the trust fund are | ||
| dissolved; and | ||
| (2) the board is abolished. | ||
| SECTION 3. Not later than December 1, 2023, the board of | ||
| directors of the Texas self-insurance group guaranty fund shall | ||
| submit the revised plan of operation to the commissioner of | ||
| insurance required by Section 407A.4561, Labor Code, as added by | ||
| this Act. | ||
| SECTION 4. This Act takes effect September 1, 2023. | ||
