77R9788 MXM-F By Farabee H.B. No. 1495 Substitute the following for H.B. No. 1495: By Seaman C.S.H.B. No. 1495 A BILL TO BE ENTITLED 1-1 AN ACT 1-2 relating to the transfer of tax credits among members of the Life, 1-3 Accident, Health and Hospital Service Insurance Guaranty 1-4 Association. 1-5 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: 1-6 SECTION 1. Section 13, Article 21.28-D, Insurance Code, is 1-7 amended by adding Subsections (d) and (e) to read as follows: 1-8 (d) A member insurer may assign or transfer a credit against 1-9 premium tax to another member insurer if: 1-10 (1) an acquisition, merger, or total assumption of 1-11 reinsurance has occurred between the insurers; or 1-12 (2) the commissioner by order approves the assignment 1-13 or transfer. 1-14 (e) Not later than November 1 or the 60th day after the date 1-15 of an assignment or transfer under Subsection (d) of this section, 1-16 whichever is later, each member insurer shall report, on a form 1-17 prescribed by the comptroller, the assignment or transfer to the 1-18 comptroller. The member insurer shall provide with the report any 1-19 documents from the commissioner that show approval of the 1-20 assignment or transfer. 1-21 SECTION 2. This Act takes effect September 1, 2001.