Amend CSHB 3689 (senate committee printing) as follows:
(1) Strike SECTION 1.12 of the bill, amending Sections 2210.453(d) and (e), Insurance Code (page 4, lines 35 through 60), and substitute the following:
SECTION 1.12. Section 2210.453, Insurance Code, is amended by amending Subsection (b) and adding Subsection (d-1) to read as follows:
(b) The association shall maintain total available loss funding in an amount not less than the probable maximum loss for the association for a catastrophe year with a probability of one in 50 [100]. If necessary, the required funding level shall be achieved through the purchase of reinsurance or the use of alternative financing mechanisms, or both, to operate in addition to or in concert with the trust fund, public securities, financial instruments, and assessments authorized by this chapter.
(d-1) The commissioner may adopt a method or approve the association's method of determining the probability of one in 50 for association risks. The commissioner shall provide any adopted or approved method to the association on or before February 1 of each year.
(2) In SECTION 2.07(a) of the bill, in amended Section 2210.453(b), Insurance Code (page 13, line 55), strike "100" and substitute "50 [100]".
(3) In SECTION 2.07(b) of the bill, in amended Section 2210.453(b), Insurance Code (page 13, line 69), strike "100" and substitute "50 [100]".