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.