1-1     By:  Farabee (Senate Sponsor - Jackson)               H.B. No. 1495
 1-2           (In the Senate - Received from the House May 7, 2001;
 1-3     May 7, 2001, read first time and referred to Committee on Business
 1-4     and Commerce; May 11, 2001, reported favorably by the following
 1-5     vote:  Yeas 4, Nays 0; May 11, 2001, sent to printer.)
 1-6                            A BILL TO BE ENTITLED
 1-7                                   AN ACT
 1-8     relating to the transfer of tax credits among members of the Life,
 1-9     Accident, Health and Hospital Service Insurance Guaranty
1-10     Association.
1-11           BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-12           SECTION 1. Section 13, Article 21.28-D, Insurance Code, is
1-13     amended by adding Subsections (d) and (e) to read as follows:
1-14           (d)  A member insurer may assign or transfer a credit against
1-15     premium tax to another member insurer if:
1-16                 (1)  an acquisition, merger, or total assumption of
1-17     reinsurance has occurred between the insurers; or
1-18                 (2)  the commissioner by order approves the assignment
1-19     or transfer.
1-20           (e)  Not later than November 1 or the 60th day after the date
1-21     of an assignment or transfer under Subsection (d) of this section,
1-22     whichever is later, each member insurer shall report, on a form
1-23     prescribed by the comptroller, the assignment or transfer to the
1-24     comptroller.  The member insurer shall provide with the report any
1-25     documents from the commissioner that show approval of the
1-26     assignment or transfer.
1-27           SECTION 2. This Act takes effect September 1, 2001.
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