By Smithee H.B. No. 3601 75R13652 DLF-F A BILL TO BE ENTITLED 1-1 AN ACT 1-2 relating to the treatment of certain annuities as charitable gift 1-3 annuities and the application of the Insurance Code and certain 1-4 other laws to charitable gift annuities. 1-5 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: 1-6 SECTION 1. Article 1.14-1A, Insurance Code, is amended by 1-7 adding Section 7 to read as follows: 1-8 Sec. 7. TREATMENT OF ANNUITY AS CHARITABLE GIFT ANNUITY; 1-9 ESTOPPEL. A donor who treats an annuity as a charitable gift 1-10 annuity in a filing with the United States Internal Revenue Service 1-11 is estopped from asserting in any litigation or proceeding that the 1-12 annuity is not a qualified charitable gift annuity issued by a 1-13 charitable organization, as described by Sections 1, 2, and 6 of 1-14 this article and Section 2(b), Article 1.14-1 of this code. 1-15 SECTION 2. (a) The purpose of this section is to clarify 1-16 the intent of the legislature with respect to the effect of 1-17 Sections 1, 2, and 6, Article 1.14-1A, Insurance Code, as those 1-18 sections existed immediately before the effective date of this Act. 1-19 (b) Sections 1, 2, and 6, Article 1.14-1A, Insurance Code, 1-20 as those sections existed immediately before the effective date of 1-21 this Act, apply to any charitable gift annuity issued before, on, 1-22 or after the effective date of this Act, including any charitable 1-23 gift annuity that is the subject of litigation or another 1-24 proceeding that is pending on the effective date of this Act. 2-1 (c) This section applies without regard to the effective 2-2 date of the legislation enacting Article 1.14-1A, Insurance Code, 2-3 or any other legislation enacted by any legislature that amended 2-4 the provisions of Article 1.14-1A, Insurance Code. 2-5 SECTION 3. This Act applies to any charitable gift annuity 2-6 issued before, on, or after the effective date of this Act, 2-7 including any charitable gift annuity that is the subject of 2-8 litigation or another proceeding that is pending on the effective 2-9 date of this Act. 2-10 SECTION 4. The importance of this legislation and the 2-11 crowded condition of the calendars in both houses create an 2-12 emergency and an imperative public necessity that the 2-13 constitutional rule requiring bills to be read on three several 2-14 days in each house be suspended, and this rule is hereby suspended, 2-15 and that this Act take effect and be in force from and after its 2-16 passage, and it is so enacted.