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A BILL TO BE ENTITLED
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AN ACT
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relating to operating requirements for farm mutual insurance |
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companies related to insurance in force on rural property. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 911.301, Insurance Code, is amended by |
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amending Subsection (a) and adding Subsections (e) and (f) to read |
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as follows: |
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(a) In this section: |
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(1) "Census year" means a year in which the United |
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States Census Bureau conducts a federal decennial census. |
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(2) "Rural[, "rural] property" means property located |
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outside an area of land subject to the taxing authority of a |
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municipality with a population of more than 6,500, adjusted in |
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accordance with Subsection (e) [2,500]. |
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(e) On January 1 of the second year following a census year, |
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the population limit described by Subsection (a)(2) increases or |
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decreases by a percentage that is equal to the percentage increase |
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or decrease in the population of this state from the previous |
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decennial census. |
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(f) Not later than November 1 of the year following a census |
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year, the commissioner shall: |
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(1) compute the new population limit in accordance |
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with Subsection (e); and |
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(2) publish the limit on the department's Internet |
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website. |
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SECTION 2. This Act takes effect September 1, 2023. |