| 1 | 1 | | By: Carona S.B. No. 1665 |
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| 2 | 2 | | (Smithee) |
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| 3 | 3 | | |
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| 4 | 4 | | |
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| 5 | 5 | | A BILL TO BE ENTITLED |
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| 6 | 6 | | AN ACT |
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| 7 | 7 | | relating to the deposit of assessments and fees collected for |
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| 8 | 8 | | examination expenses. |
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| 9 | 9 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 10 | 10 | | SECTION 1. Section 401.156, Insurance Code, is amended to |
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| 11 | 11 | | read as follows: |
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| 12 | 12 | | Sec. 401.156. DEPOSIT AND USE OF ASSESSMENT AND FEE. |
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| 13 | 13 | | (a) The department shall deposit any assessments or fees collected |
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| 14 | 14 | | under this subchapter relating to the examination of insurers and |
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| 15 | 15 | | other regulated entities by the financial examinations division or |
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| 16 | 16 | | actuarial division, as those terms are defined by Section 401.251, |
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| 17 | 17 | | to the credit of an account with the Texas Treasury Safekeeping |
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| 18 | 18 | | Trust Company to be used exclusively to pay examination costs, as |
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| 19 | 19 | | defined by Section 401.251, reimbursement of the Texas Department |
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| 20 | 20 | | of Insurance operating account for administrative support costs, |
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| 21 | 21 | | and reimbursement of premium tax credits for examination costs and |
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| 22 | 22 | | examination overhead assessments. [Money deposited under this |
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| 23 | 23 | | subsection accumulates and may be disbursed to the department in a |
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| 24 | 24 | | manner consistent with Subchapter F.] |
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| 25 | 25 | | (b) Money deposited under Subsection (a) accumulates and |
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| 26 | 26 | | may be disbursed to the department in a manner consistent with that |
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| 27 | 27 | | subsection and Subchapter F. |
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| 28 | 28 | | (c) Revenue that is not related to the examination of |
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| 29 | 29 | | insurers or other regulated entities by the financial examinations |
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| 30 | 30 | | division or actuarial division shall be deposited to the credit of |
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| 31 | 31 | | the Texas Department of Insurance operating account. |
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| 32 | 32 | | (d) [(c)] To the extent that another provision of law |
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| 33 | 33 | | conflicts with this section or a provision of this section, this |
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| 34 | 34 | | section or the provision of this section controls. |
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| 35 | 35 | | (e) [(d)] The department may transfer funds between the |
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| 36 | 36 | | account described by Subsection (a) and the Texas Department of |
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| 37 | 37 | | Insurance operating account as necessary to ensure that funds are |
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| 38 | 38 | | deposited to the correct account and used for the correct purposes. |
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| 39 | 39 | | This subsection does not authorize a disbursement or transfer of |
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| 40 | 40 | | funds in a manner that is inconsistent with the purpose of |
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| 41 | 41 | | Subchapter F and this section. |
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| 42 | 42 | | SECTION 2. This Act takes effect immediately if it receives |
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| 43 | 43 | | a vote of two-thirds of all the members elected to each house, as |
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| 44 | 44 | | provided by Section 39, Article III, Texas Constitution. If this |
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| 45 | 45 | | Act does not receive the vote necessary for immediate effect, this |
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| 46 | 46 | | Act takes effect September 1, 2013. |
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