By: Hancock S.B. No. 2204
(In the Senate - Filed March 10, 2017; March 29, 2017, read
first time and referred to Committee on Business & Commerce;
April 19, 2017, reported favorably by the following vote: Yeas 8,
Nays 0; April 19, 2017, sent to printer.)
Click here to see the committee vote
A BILL TO BE ENTITLED
AN ACT
relating to the administration of the certified capital company
program by the office of the comptroller of public accounts.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Effective December 31, 2018, Chapter 228,
Insurance Code, is repealed.
SECTION 2. The repeal by this Act of Chapter 228, Insurance
Code, does not affect premium tax credits for certified capital
invested under that chapter before the effective date of the repeal
and the recapture of those credits. Premium tax credits for
certified capital invested before the effective date of the repeal
and the recapture of those credits are governed by the law as it
existed immediately before that date, and that law is continued in
effect for that purpose.
SECTION 3. This Act takes effect immediately if it receives
a vote of two-thirds of all the members elected to each house, as
provided by Section 39, Article III, Texas Constitution. If this
Act does not receive the vote necessary for immediate effect, this
Act takes effect September 1, 2017.
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