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. 1-28 * * * * *