Tex. Ins. Code § 2210.655

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.

Section 2210.655 - Temporary Powers and Duties of Board; Study of Funding and Funding Structure

(a) The board shall:

(1) gather information regarding:

(A) how the association's current funding and funding structure operate;

(B) how the catastrophic risk pools of other states operate; and

(C) other information that the board considers necessary to prepare the information required by Subsection (c); and

(2) hold public meetings to hear testimony from experts, stakeholders, and other interested parties regarding recommendations and proposals for establishing and implementing sustainable funding and a sustainable funding structure for the association.

(b) The board may request reports and other information as necessary to implement this section from:

(1) the department;

(2) the association; and

(3) experts, stakeholders, and other interested parties described by Subsection (a)(2).

(c) The board shall include in the report described by Section 2210.654 the board's findings regarding the current funding and funding structure of the association, problems with the funding and funding structure, and recommendations for legislative action related to the funding, funding structure, and sustainability of the association. The report must include:

(1) an analysis of the current funding, funding structure, and sustainability of the association, including the association's reliance on debt and reinsurance; and

(2) recommendations for legislative action necessary to:

(A) address problems with the current funding and funding structure of the association; and

(B) foster the stability and sustainability of the association.

(d) This section expires September 1, 2023.

Tex. Ins. Code § 2210.655

Added by Acts 2021, Texas Acts of the 87th Leg. - Regular Session, ch. 147,Sec. 3, eff. 9/1/2021.