| 3 | 2 | | |
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| 4 | 3 | | |
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| 5 | 4 | | A BILL TO BE ENTITLED |
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| 6 | 5 | | AN ACT |
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| 7 | 6 | | relating to the administration of the certified capital company |
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| 8 | 7 | | program by the office of the comptroller of public accounts. |
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| 9 | 8 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 10 | 9 | | SECTION 1. Effective December 31, 2018, Chapter 228, |
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| 11 | 10 | | Insurance Code, is repealed. |
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| 12 | 11 | | SECTION 2. The repeal by this Act of Chapter 228, Insurance |
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| 13 | 12 | | Code, does not affect premium tax credits for certified capital |
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| 14 | 13 | | invested under that chapter before the effective date of the repeal |
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| 15 | 14 | | and the recapture of those credits. Premium tax credits for |
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| 16 | 15 | | certified capital invested before the effective date of the repeal |
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| 17 | 16 | | and the recapture of those credits are governed by the law as it |
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| 18 | 17 | | existed immediately before that date, and that law is continued in |
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| 19 | 18 | | effect for that purpose. |
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| 20 | 19 | | SECTION 3. This Act takes effect immediately if it receives |
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| 21 | 20 | | a vote of two-thirds of all the members elected to each house, as |
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| 22 | 21 | | provided by Section 39, Article III, Texas Constitution. If this |
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| 23 | 22 | | Act does not receive the vote necessary for immediate effect, this |
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| 24 | 23 | | Act takes effect September 1, 2017. |
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