Amend CSSB 1151 (house committee printing) by adding the following appropriately numbered SECTIONS to the bill and renumbering subsequent SECTIONS of the bill accordingly:
SECTION ____. Section 103.0535, Civil Practice and Remedies Code, is amended by amending Subsection (d) and adding Subsection (d-1) to read as follows:
(d) An election under this section must be made not later than the 45th day after the date:
(1) on which the claimant files with the comptroller the application required by Section 103.051; or
(2) on which the claimant experiences one of the following life-changing events:
(A) marriage or divorce of the claimant;
(B) the addition of a dependent of the claimant; or
(C) the death of a dependent, spouse, or beneficiary of the claimant.
(d-1) An election under Subsection (d) must be made on a form prescribed by the comptroller that:
(1) identifies the claimant's spouse or designated beneficiary according to Section 103.0536; and
(2) specifies the option selected under Subsection (c).
SECTION ____. (a) Notwithstanding Section 103.0535(d), Civil Practice and Remedies Code, as amended by this Act, a person entitled to compensation under Section 103.001(a), Civil Practice and Remedies Code, who started receiving annuity payments before the effective date of this Act may elect to receive any remaining payments as alternative annuity payments under Section 103.0535, Civil Practice and Remedies Code, as amended by this Act, by filing the form described by Section 103.0535(d-1), Civil Practice and Remedies Code, as added by this Act, with the comptroller after December 31, 2019, and before March 1, 2020. The value of alternative annuity payments elected under this subsection must be actuarially equivalent to the remaining value of the annuity payments the person would receive absent the election. This subsection does not affect the ability of a person described by this subsection to make an election under Section 103.0535(d), Civil Practice and Remedies Code, as amended by this Act, following a life-changing event described by that subsection.
(b) Not later than December 1, 2019, the comptroller shall provide notice to all persons entitled to compensation under Section 103.001(a), Civil Practice and Remedies Code, of:
(1) the opportunity described by Subsection (a) of this section to elect to receive alternative annuity payments under Section 103.0535, Civil Practice and Remedies Code, as amended by this Act; and
(2) the opportunity to elect to receive alternative annuity payments after a life-changing event under Section 103.0535(d), Civil Practice and Remedies Code, as amended by this Act.
(c) The comptroller shall provide the notice required by Subsection (b) of this section by:
(1) certified mail to a person's last known address; and
(2) phone call to the phone number that the comptroller has on file for the person.