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A BILL TO BE ENTITLED
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AN ACT
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relating to automobile surcharges for payment of certain public |
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securities of the Texas Windstorm Insurance Association. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 2210.613(c), Insurance Code, is amended |
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to read as follows: |
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(c) The premium surcharge under Subsection (b) shall be |
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assessed on all policyholders of policies described by this |
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subsection [that cover insured property that is located in a
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catastrophe area, including automobiles principally garaged in a
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catastrophe area]. The premium surcharge shall be assessed on each |
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Texas windstorm and hail insurance policy and, as provided by this |
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subsection, each property and casualty insurance policy[,
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including an automobile insurance policy,] issued for [automobiles
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and other] property located in the catastrophe area. A premium |
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surcharge under Subsection (b) applies only to: |
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(1) [all] policies written under the following lines |
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of insurance: |
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(A) fire and allied lines; |
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(B) farm and ranch owners; and |
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(C) residential property insurance; |
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[(D)
private passenger automobile liability and
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physical damage insurance; and
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[(E)
commercial automobile liability and
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physical damage insurance;] and |
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(2) the property insurance portion of a commercial |
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multiple peril insurance policy. |
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SECTION 2. The change in law made by this Act applies only |
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to a surcharge imposed on a policy delivered, issued for delivery, |
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or renewed on or after September 1, 2015, to pay public securities |
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approved by the commissioner of insurance on or after that date. A |
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surcharge imposed on a policy delivered, issued for delivery, or |
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renewed before September 1, 2015, or to pay public securities |
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approved before that date is governed by the law as it existed |
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immediately before the effective date of this Act, and that law is |
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continued in effect for that purpose. |
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SECTION 3. This Act takes effect September 1, 2015. |