By: Sibley S.B. No. 1948 A BILL TO BE ENTITLED AN ACT 1-1 relating to the treatment of certain annuities as charitable gift 1-2 annuities and the application of the Insurance Code and certain 1-3 other laws to charitable gift annuities. 1-4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: 1-5 SECTION 1. Article 1.14-1A, Insurance Code, is amended by 1-6 adding Section 7 to read as follows: 1-7 Sec. 7. TREATMENT OF ANNUITY AS CHARITABLE GIFT ANNUITY. 1-8 Any annuity treated by the donor as a charitable gift annuity for 1-9 any federal tax purpose shall be considered in any litigation or 1-10 proceeding brought by or on behalf of the donor or the donor's 1-11 heirs or distributees as a charitable gift annuity issued by a 1-12 charitable organization for purposes of Sections 1, 2, and 6 of 1-13 this article and Section 2(b), Article 1.14-1 of this code. 1-14 SECTION 2. Sections 1, 2, 6, and 7, Article 1.14-1A, 1-15 Insurance Code, and Subsection (b), Section 2, Article 1.14-1, 1-16 Insurance Code, as those sections exist on the effective date of 1-17 this Act, apply to any charitable gift annuity issued before, on, 1-18 or after the effective date of this Act, including any charitable 1-19 gift annuity that is the subject of any litigation or other 1-20 proceeding that is pending before, on, or after the effective date 1-21 of this Act. 1-22 SECTION 3. The importance of this legislation and the 1-23 crowded condition of the calendars in both houses create an 2-1 emergency and an imperative public necessity that the 2-2 constitutional rule requiring bills to be read on three several 2-3 days in each house be suspended, and this rule is hereby suspended, 2-4 and that this Act take effect and be in force from and after its 2-5 passage, and it is so enacted.