| 1 | 1 | | 84R741 PMO-D |
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| 2 | 2 | | By: Lucio III H.B. No. 2412 |
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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 automobile surcharges for payment of certain public |
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| 8 | 8 | | securities of the Texas Windstorm Insurance Association. |
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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 2210.613(c), Insurance Code, is amended |
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| 11 | 11 | | to read as follows: |
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| 12 | 12 | | (c) The premium surcharge under Subsection (b) shall be |
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| 13 | 13 | | assessed on all policyholders of policies described by this |
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| 14 | 14 | | subsection [that cover insured property that is located in a |
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| 15 | 15 | | catastrophe area, including automobiles principally garaged in a |
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| 16 | 16 | | catastrophe area]. The premium surcharge shall be assessed on each |
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| 17 | 17 | | Texas windstorm and hail insurance policy and, as provided by this |
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| 18 | 18 | | subsection, each property and casualty insurance policy[, |
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| 19 | 19 | | including an automobile insurance policy,] issued for [automobiles |
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| 20 | 20 | | and other] property located in the catastrophe area. A premium |
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| 21 | 21 | | surcharge under Subsection (b) applies only to: |
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| 22 | 22 | | (1) [all] policies written under the following lines |
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| 23 | 23 | | of insurance: |
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| 24 | 24 | | (A) fire and allied lines; |
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| 25 | 25 | | (B) farm and ranch owners; and |
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| 26 | 26 | | (C) residential property insurance; |
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| 27 | 27 | | [(D) private passenger automobile liability and |
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| 28 | 28 | | physical damage insurance; and |
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| 29 | 29 | | [(E) commercial automobile liability and |
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| 30 | 30 | | physical damage insurance;] and |
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| 31 | 31 | | (2) the property insurance portion of a commercial |
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| 32 | 32 | | multiple peril insurance policy. |
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| 33 | 33 | | SECTION 2. The change in law made by this Act applies only |
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| 34 | 34 | | to a surcharge imposed on a policy delivered, issued for delivery, |
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| 35 | 35 | | or renewed on or after September 1, 2015, to pay public securities |
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| 36 | 36 | | approved by the commissioner of insurance on or after that date. A |
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| 37 | 37 | | surcharge imposed on a policy delivered, issued for delivery, or |
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| 38 | 38 | | renewed before September 1, 2015, or to pay public securities |
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| 39 | 39 | | approved before that date is governed by the law as it existed |
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| 40 | 40 | | immediately before the effective date of this Act, and that law is |
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| 41 | 41 | | continued in effect for that purpose. |
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| 42 | 42 | | SECTION 3. This Act takes effect September 1, 2015. |
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