SRC-VRA H.B. 1666 78(R) BILL ANALYSIS Senate Research Center H.B. 1666 78R458 DAK-DBy: Hartnett (Wentworth) Jurisprudence 5/9/2003 Engrossed DIGEST AND PURPOSE A "structured settlement" is an arrangement for the periodic payment of damages for personal injury or sickness established by the settlement or judgment of a tort or workers' compensation claim. At times, people entitled to payments under structured settlement sell the rights to these payments for a discounted lump sum. The 77th Legislature enacted the Structured Settlement Protection Act, requiring court approval of agreements to sell periodic payment rights arising from structured settlements. Statutory probate courts, however, were inadvertently omitted from the definition of "court." H.B. 1666 corrects this oversight in the Structured Settlement Protection Act by adding a specific reference to a statutory probate court. RULEMAKING AUTHORITY This bill does not expressly grant any additional rulemaking authority to a state officer, institution, or agency. SECTION BY SECTION ANALYSIS SECTION 1. Amends Section 141.002(2), Civil Practice and Remedies Code, to include a statutory probate court in the definition of "court." SECTION 2.Effective date: September 1, 2003. Makes application of this Act prospective.