Bill Text: TX HB4868 | 2023-2024 | 88th Legislature | Comm Sub

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Relating to operating requirements for farm mutual insurance companies related to insurance in force on rural property.

Spectrum: Partisan Bill (Republican 2-0)

Status: (Engrossed - Dead) 2023-05-10 - Received from the House [HB4868 Detail]

Download: Texas-2023-HB4868-Comm_Sub.html

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88R25698 JES-F
By: Bailes, et al. H.B. No. 4868
Substitute the following for H.B. No. 4868:
By: Oliverson C.S.H.B. No. 4868

A BILL TO BE ENTITLED
AN ACT
relating to operating requirements for farm mutual insurance
companies related to insurance in force on rural property.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 911.301, Insurance Code, is amended by
amending Subsection (a) and adding Subsections (e) and (f) to read
as follows:
(a) In this section:
(1) "Census year" means a year in which the United
States Census Bureau conducts a federal decennial census.
(2) "Rural[, "rural] property" means property located
outside an area of land subject to the taxing authority of a
municipality with a population of more than 6,500, adjusted in
accordance with Subsection (e) [2,500].
(e) On January 1 of the second year following a census year,
the population limit described by Subsection (a)(2) increases or
decreases by a percentage that is equal to the percentage increase
or decrease in the population of this state from the previous
decennial census.
(f) Not later than November 1 of the year following a census
year, the commissioner shall:
(1) compute the new population limit in accordance
with Subsection (e); and
(2) publish the limit on the department's Internet
website.
SECTION 2. This Act takes effect September 1, 2023.