SRC-LBB S.B. 1347 78(R)   BILL ANALYSIS


Senate Research Center   S.B. 1347
78R7165 PB-DBy: Jackson
Business & Commerce
4/12/2003
As Filed


DIGEST AND PURPOSE 
 
Currently, Texas law provides that a rate established and authorized by
the commissioner of insurance for the Texas Windstorm Insurance
Association may not reflect an average rate change that is more than 10
percent higher or lower than the rate for commercial, or 10 percent higher
or lower than the rate for noncommercial windstorm and hail insurance in
effect on the date the filing is made and may not reflect a rate change
for an individual rating class that is 15 percent higher or lower than the
rate for that individual class in effect on the date the filing is made.
This provision expires on December 31, 2005.  As proposed, S.B. 1347
removes the expiration date and allows the statutory rate limitations to
continue. 

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 8(h)(9), Article 21.49, Insurance Code, to
remove the expiration date of this subdivision. 

SECTION 2.  Effective date:  upon passage or September 1, 2003.