Bill Text: TX SB2149 | 2023-2024 | 88th Legislature | Introduced
Bill Title: Relating to boycott, coercion, and intimidation activities by insurance companies regarding environmental, social, and governance matters.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2023-03-21 - Referred to State Affairs [SB2149 Detail]
Download: Texas-2023-SB2149-Introduced.html
88R14148 KBB-F | ||
By: Sparks | S.B. No. 2149 |
|
||
|
||
relating to boycott, coercion, and intimidation activities by | ||
insurance companies regarding environmental, social, and | ||
governance matters. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Section 541.054, Insurance Code, is amended to | ||
read as follows: | ||
Sec. 541.054. BOYCOTT, COERCION, OR INTIMIDATION. (a) It | ||
is an unfair method of competition or an unfair or deceptive act or | ||
practice in the business of insurance to commit through concerted | ||
action or to enter into an agreement to commit an act of boycott, | ||
coercion, or intimidation that results in or tends to result in the | ||
unreasonable restraint of or a monopoly in the business of | ||
insurance. | ||
(b) An act of boycott, coercion, or intimidation includes | ||
refusing to deal with, terminating business activities with, or | ||
otherwise taking any commercial action that is intended to | ||
penalize, inflict economic harm on, limit commercial relations | ||
with, or change or limit the activities of a company because the | ||
company, without violating controlling federal or state law: | ||
(1) engages in the exploration, production, | ||
utilization, transportation, sale, or manufacturing of fossil | ||
fuel-based energy, timber, mining, or agriculture; | ||
(2) engages in, facilitates, or supports the | ||
manufacture, import, distribution, marketing or advertising, sale, | ||
or lawful use of firearms, ammunition, or component parts and | ||
accessories of firearms or ammunition; | ||
(3) contracts with the United States Immigration and | ||
Customs Enforcement for the provision of federal immigration | ||
detention centers or support services related to the implementation | ||
of federal immigration and border security laws, regulations, and | ||
policies; | ||
(4) does not meet, is not expected to meet, or does not | ||
commit to meet environmental standards or disclosure criteria, in | ||
particular to eliminate, reduce, offset, or disclose greenhouse gas | ||
emissions; or | ||
(5) does not meet, is not expected to meet, or does not | ||
commit to meet corporate board, employment, composition, | ||
compensation, or disclosure criteria that incorporates | ||
characteristics protected under Chapter 21, Labor Code. | ||
(c) A method of competition, act, or practice in the | ||
business of insurance may be determined to be an action to boycott, | ||
coerce, or intimidate based on evidence indicating that purpose, | ||
including: | ||
(1) branding, advertising, statements, explanations, | ||
reports, letters to clients, communications with portfolio | ||
companies, statements of principles, or commitments; or | ||
(2) participation in, affiliation with, or status as a | ||
signatory to any coalition, initiative, joint statement of | ||
principles, or agreement. | ||
SECTION 2. This Act takes effect September 1, 2023. |