| 1 | 1 | | 88R25698 JES-F |
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| 2 | 2 | | By: Bailes, et al. H.B. No. 4868 |
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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 operating requirements for farm mutual insurance |
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| 8 | 8 | | companies related to insurance in force on rural property. |
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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 911.301, Insurance Code, is amended by |
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| 11 | 11 | | amending Subsection (a) and adding Subsections (e) and (f) to read |
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| 12 | 12 | | as follows: |
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| 13 | 13 | | (a) In this section: |
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| 14 | 14 | | (1) "Census year" means a year in which the United |
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| 15 | 15 | | States Census Bureau conducts a federal decennial census. |
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| 16 | 16 | | (2) "Rural[, "rural] property" means property located |
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| 17 | 17 | | outside an area of land subject to the taxing authority of a |
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| 18 | 18 | | municipality with a population of more than 6,500, adjusted in |
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| 19 | 19 | | accordance with Subsection (e) [2,500]. |
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| 20 | 20 | | (e) On January 1 of the second year following a census year, |
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| 21 | 21 | | the population limit described by Subsection (a)(2) increases or |
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| 22 | 22 | | decreases by a percentage that is equal to the percentage increase |
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| 23 | 23 | | or decrease in the population of this state from the previous |
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| 24 | 24 | | decennial census. |
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| 25 | 25 | | (f) Not later than November 1 of the year following a census |
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| 26 | 26 | | year, the commissioner shall: |
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| 27 | 27 | | (1) compute the new population limit in accordance |
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| 28 | 28 | | with Subsection (e); and |
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| 29 | 29 | | (2) publish the limit on the department's Internet |
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| 30 | 30 | | website. |
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| 31 | 31 | | SECTION 2. This Act takes effect September 1, 2023. |
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