SRC-JBJ S.B. 323 76(R) BILL ANALYSIS Senate Research Center S.B. 323 76R3759 AJA-DBy: Ellis Economic Development 3/16/1999 As Filed DIGEST Currently, the Residential Market Assistant Program (MAP) assists homeowners in underserved areas to obtain residential property insurance. S.B. 1499, 75th Legislature, moved farm and ranch owners policies from regulation as personal lines insurance to regulation as commercial lines. As a result of the regulatory change, a corresponding change must be made to redefine residential property insurance in the Insurance Code to assist insureds to utilize the Texas Residential Market Assistance Program. S.B. 323 would establish that residential property insurance in underserved areas does not include farm and ranch owners policies. PURPOSE As proposed, S.B. 323 specifically excludes a farm and ranch owner's policy from certain residential property insurance in underserved areas. RULEMAKING AUTHORITY This bill does not grant any additional rulemaking authority to a state officer, institution, or agency. SECTION BY SECTION ANALYSIS SECTION 1. Amends Section 1(a), Article 21.49-12, Insurance Code, to exclude farm and ranch owners' policies from residential property insurance. Makes nonsubstantive changes. SECTION 2.Effective date: September 1, 1999. SECTION 3.Emergency clause.