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Amend CSSB 1007 (Senate committee report) by inserting the 
following appropriately numbered SECTIONS and renumbering 
subsequent SECTIONS of the bill appropriately:
	SECTION ____.  Section 2254.003(a), Insurance Code, is 
amended to read as follows:
	(a)  This section applies to a rate for personal automobile 
insurance or residential property insurance filed on or after the 
effective date of Chapter 206, Acts of the 78th Legislature, 
Regular Session, 2003.
	SECTION ____.  Section 2254.003, Insurance Code, is amended 
by adding subsections (a-1), (a-2) and (a-3) to read as follows:
	(a-1)  If the department provides an insurer with formal 
written notice that a rate is excessive or unfairly discriminatory, 
then the insurer may file a new rate or take other corrective action 
to substantially address the department's concerns.  The new rate 
or other corrective action must be filed on or before the sixtieth 
day following the date of formal written notice.  At his discretion, 
the commissioner may extend the deadline to file by an additional 30 
days.  If the department accepts the new rate or other corrective 
action, then the insurer shall, according to commissioner order, 
refund or issue a premium discount directly to each affected 
policyholder on the portion of the premium found to be excessive or 
unfairly discriminatory, plus interest on that amount.   The 
interest rate to be paid on refunds under this subsection is the sum 
of six percent and the prime rate for the calendar year in which 
formal written notice is given.  For purposes of this subsection, 
the prime rate is the prime rate as published in The Wall Street 
Journal for the first day of the calendar year that is not a 
Saturday, Sunday, or legal holiday.
	(a-2)  If the insurer does not file, or the department does 
not accept, a new rate or other corrective action as provided under 
subsection (a-1), and the commissioner issues an order finding that 
the rate is excessive or unfairly discriminatory under section 
2251.104, then the insurer must refund or issue a premium discount 
directly to each affected policyholder the portion of the premium 
found to be excessive or unfairly discriminatory, plus interest on 
that amount.  The interest rate to be paid on such refunds under 
this subsection is 18 percent.  An insurer shall not be required to 
pay any interest penalty if the insurer prevails in an appeal of the 
commissioner's order under Subchapter D, Chapter 36.
	(a-3)  The period for the refund and interest begins on the 
date the department first provides the insurer with formal written 
notice that the insurer's filed rate is excessive or unfairly 
discriminatory, and interest continues to accrue until the refund 
is paid.
	SECTION ____.   Section 2254.003(c), Insurance Code, is 
repealed.