88R17240 SCL-F
 
  By: Paul H.B. No. 3333
 
  Substitute the following for H.B. No. 3333:
 
  By:  Oliverson C.S.H.B. No. 3333
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to eligibility for coverage by the Fair Access to
  Insurance Requirements Plan in certain areas.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Section 2211.151, Insurance Code, is amended to
  read as follows:
         Sec. 2211.151.  MANDATORY COVERAGE PROVIDED TO CERTAIN
  INSUREDS.  (a)  The association shall make residential property
  insurance available to each applicant in an underserved area whose
  property is insurable in accordance with reasonable underwriting
  standards but who, after diligent efforts, is unable to obtain
  residential property insurance through the voluntary market, as
  evidenced by two declinations from insurers authorized to engage in
  the business of, and writing, residential property insurance in
  this state.
         (b)  For an applicant owning residential property located
  not more than four miles beyond the Texas Windstorm Insurance
  Association catastrophe area designated under Section 2210.005, an
  offer of coverage for the property through the voluntary market at a
  cost that exceeds 110 percent of the cost for an association policy
  providing equivalent coverage of residential property with similar
  rating characteristics, including size, elevation, age, and
  construction standards, is considered a declination for purposes of
  establishing eligibility for coverage under Subsection (a).
         SECTION 2.  This Act takes effect immediately if it receives
  a vote of two-thirds of all the members elected to each house, as
  provided by Section 39, Article III, Texas Constitution.  If this
  Act does not receive the vote necessary for immediate effect, this
  Act takes effect September 1, 2023.