SRC-LBB S.B. 463 78(R) BILL ANALYSIS Senate Research Center S.B. 463 78R1378 PB-DBy: Janek State Affairs 3/4/2003 As Filed DIGEST AND PURPOSE Current law allows a property owner with a structure built before 1991 and located inside a Federal Coastal Barrier Resource Zone to purchase wind insurance through the Texas Windstorm Insurance Association. As proposed, S.B. 463 deletes statutory language which prohibits coastal structures for which construction commenced after July 1, 1991, from being considered insurable property. 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 3(f), Article 21.49, Insurance Code, to delete language prohibiting all structures which are located within those areas designated as units under the federal Coastal Barrier Resources Act (Public Law 97-348) and for which construction has been commenced on or after July 1, 1991, from being considered insurable property. SECTION 2. Makes application of this Act prospective to January 1, 2004. SECTION 3. Effective date: September 1, 2003.