84R741 PMO-D
By: Lucio III H.B. No. 2412
A BILL TO BE ENTITLED
AN ACT
relating to automobile surcharges for payment of certain public
securities of the Texas Windstorm Insurance Association.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 2210.613(c), Insurance Code, is amended
to read as follows:
(c) The premium surcharge under Subsection (b) shall be
assessed on all policyholders of policies described by this
subsection [that cover insured property that is located in a
catastrophe area, including automobiles principally garaged in a
catastrophe area]. The premium surcharge shall be assessed on each
Texas windstorm and hail insurance policy and, as provided by this
subsection, each property and casualty insurance policy[,
including an automobile insurance policy,] issued for [automobiles
and other] property located in the catastrophe area. A premium
surcharge under Subsection (b) applies only to:
(1) [all] policies written under the following lines
of insurance:
(A) fire and allied lines;
(B) farm and ranch owners; and
(C) residential property insurance;
[(D) private passenger automobile liability and
physical damage insurance; and
[(E) commercial automobile liability and
physical damage insurance;] and
(2) the property insurance portion of a commercial
multiple peril insurance policy.
SECTION 2. The change in law made by this Act applies only
to a surcharge imposed on a policy delivered, issued for delivery,
or renewed on or after September 1, 2015, to pay public securities
approved by the commissioner of insurance on or after that date. A
surcharge imposed on a policy delivered, issued for delivery, or
renewed before September 1, 2015, or to pay public securities
approved before that date is governed by the law as it existed
immediately before the effective date of this Act, and that law is
continued in effect for that purpose.
SECTION 3. This Act takes effect September 1, 2015.