76R11138 T                          
         By Sibley                                              S.B. No. 333
         Substitute the following for S.B. No. 333:
         By Eiland                                          C.S.S.B. No. 333
                                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.  Section 2, Article 1.14-1A, Insurance Code, is
 1-7     amended by adding Subsection (c) to read as follows:
 1-8           (c)  Any person or entity involved in the issuance of a
 1-9     qualified charitable gift annuity shall have immunity from suit,
1-10     including both a defense to liability and the right not to bear the
1-11     cost, burden, and risk of discovery and trial, as to any claim
1-12     brought by or on behalf of the donor or the donor's heirs or
1-13     distributees alleging that the issuance of a charitable gift
1-14     annuity constitutes engaging in the business of insurance in this
1-15     state.  An interlocutory appeal may be taken if a court denies or
1-16     otherwise fails to grant a motion for summary judgment that is
1-17     based on an assertion of the immunity provided in this subsection.
1-18           SECTION 2.  Article 1.14-1A, Insurance Code, is amended by
1-19     adding Section 7 to read as follows:
1-20           Sec. 7.  TREATMENT OF ANNUITY AS CHARITABLE GIFT ANNUITY;
1-21     ESTOPPEL.  In any litigation or other proceeding brought by or on
1-22     behalf of a donor or the donor's heirs or distributees, an annuity
1-23     that the donor has treated as a charitable gift annuity in a filing
1-24     with the United States Internal Revenue Service shall be considered
 2-1     to be a charitable gift annuity issued by a charitable
 2-2     organization, as described by Sections 1, 2, and 6 of this article
 2-3     and Section 2(b), Article 1.14-1 of this code.
 2-4           SECTION 3.  (a)  Sections 1, 2, 6, and 7, Article 1.14-1A,
 2-5     Insurance Code and Section 2(b), Article 1.14-1, Insurance Code, as
 2-6     those sections exist on the effective date of this Act, apply to
 2-7     any charitable gift annuity issued before, on, or after the
 2-8     effective date of this Act, including any charitable gift annuity
 2-9     that is the subject of litigation or another proceeding that is
2-10     pending before, on, or after the effective date of this Act.
2-11           (b)  This section applies without regard to the effective
2-12     date of the legislation enacting Article 1.14-1A, Insurance Code,
2-13     or any other legislation enacted by any legislature that amended
2-14     the provisions of Article 1.14-1A, Insurance Code.
2-15           SECTION 4.  This Act applies to any charitable gift annuity
2-16     issued before, on, or after the effective date of this Act,
2-17     including any charitable gift annuity that is the subject of
2-18     litigation or another proceeding that is pending before, on, or
2-19     after the effective date of this Act.
2-20           SECTION 5.  The importance of this legislation and the
2-21     crowded condition of the calendars in both houses create an
2-22     emergency and an imperative public necessity that the
2-23     constitutional rule requiring bills to be read on three several
2-24     days in each house be suspended, and this rule is hereby suspended,
2-25     and that this Act take effect and be in force from and after its
2-26     passage, and it is so enacted.