Bill not drafted by TLC or Senate E&E. Line and page numbers may not match official copy. By: Patterson S.B. No. 1387 A BILL TO BE ENTITLED AN ACT 1-1 relating to authority by the Association, after prior approval by 1-2 the Commissioner, to issued policies paying actual cash value 1-3 benefits instead of replacement cost benefits for damage to roofs 1-4 when underwriting criteria approved by the Commissioner are met. 1-5 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: 1-6 SECTION 1. The Texas Catastrophe Property Insurance Pool Act 1-7 (Article 21.49, Insurance Code) is amended to read as follows: 1-8 Sec. 8A(b). If, at the time of loss, the total amount of 1-9 insurance applicable to the dwelling is equal to 80 percent or more 1-10 of the full replacement cost of the dwelling or equal to the 1-11 maximum amount of insurance otherwise available through the 1-12 Association, coverage applicable to the dwelling under the policy 1-13 may be extended to include the full cost of repair or replacement, 1-14 without a deduction for depreciation. If, at the time of loss, the 1-15 total amount of insurance applicable to the dwelling is equal to 1-16 less than 80 percent of the full replacement cost of the dwelling 1-17 and less than the maximum amount of insurance available through the 1-18 Association, liability for loss under the policy may not exceed the 1-19 replacement cost of that part of the dwelling damaged or destroyed, 1-20 less depreciation. Notwithstanding anything to the contrary in 1-21 this Act or other law, and subject to the prior approval and 1-22 conditions of the Commissioner after a public hearing, the 1-23 Association may implement underwriting guidelines allowing it to 2-1 insure roofs of a building covered by a TCPIA policy based on 2-2 actual cash value instead of replacement costs. 2-3 SECTION 2. This Act takes effect on September 1, 1997. 2-4 SECTION 3. The importance of this legislation and the 2-5 crowded condition of the calendars in both houses create an 2-6 emergency and an imperative public necessity that the 2-7 constitutional rule requiring bills to be read on three several 2-8 days in each house be suspended, and this rule is hereby suspended.