By Smithee H.B. No. 823 76R4114 DLF-D 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. In any litigation or other proceeding brought by or on 1-10 behalf of a donor or the donor's heirs or distributees, an annuity 1-11 that the donor has treated as a charitable gift annuity in a filing 1-12 with the United States Internal Revenue Service shall be considered 1-13 to be a qualified charitable gift annuity issued by a charitable 1-14 organization, as described by Sections 1, 2, and 6 of this article 1-15 and Section 2(b), Article 1.14-1 of this code. 1-16 SECTION 2. (a) The purpose of this section is to clarify 1-17 the intent of the legislature with respect to the effect of 1-18 Sections 1, 2, and 6, Article 1.14-1A, Insurance Code, and Section 1-19 2(b), Article 1.14-1, Insurance Code, as those sections existed 1-20 immediately before the effective date of this Act. 1-21 (b) Sections 1, 2, and 6, Article 1.14-1A, Insurance Code, 1-22 and Section 2(b), Article 1.14-1, Insurance Code, as those sections 1-23 existed immediately before the effective date of this Act, apply to 1-24 any charitable gift annuity issued before, on, or after the 2-1 effective date of this Act, including any charitable gift annuity 2-2 that is the subject of litigation or another proceeding that is 2-3 pending on the effective date of this Act. 2-4 (c) This section applies without regard to the effective 2-5 date of the legislation enacting Article 1.14-1A, Insurance Code, 2-6 or any other legislation enacted by any legislature that amended 2-7 the provisions of Article 1.14-1A, Insurance Code. 2-8 SECTION 3. This Act applies to any charitable gift annuity 2-9 issued before, on, or after the effective date of this Act, 2-10 including any charitable gift annuity that is the subject of 2-11 litigation or another proceeding that is pending on the effective 2-12 date of this Act. 2-13 SECTION 4. The importance of this legislation and the 2-14 crowded condition of the calendars in both houses create an 2-15 emergency and an imperative public necessity that the 2-16 constitutional rule requiring bills to be read on three several 2-17 days in each house be suspended, and this rule is hereby suspended, 2-18 and that this Act take effect and be in force from and after its 2-19 passage, and it is so enacted.