HBA-TBM H.B. 1495 77(R)    BILL ANALYSIS


Office of House Bill AnalysisH.B. 1495
By: Farabee
Insurance
3/11/2001
Introduced



BACKGROUND AND PURPOSE 

Under current law, in the event of a merger, acquisition or total
assumption of reinsurance among or between insurers, insurance premium tax
credits for guaranty fund assessments may not be transferred or assigned
among or between insurers.  House Bill 1495 allows members of the Life,
Accident, Health and Hospital Service Industry Guaranty Association to take
a premium tax credit for assessments paid to the association.   

RULEMAKING AUTHORITY

It is the opinion of the Office of House Bill Analysis that this bill does
not expressly delegate any additional rulemaking authority to a state
officer, department, agency, or institution. 

ANALYSIS

House Bill 1495 amends the Insurance Code to set forth provisions relating
to available credit that may be used to offset premium tax.  Available
credit may be transferred or assigned among or between insurers if a
merger, acquisition or total assumption of reinsurance among or between the
insurers occurs, or the commissioner of insurance by order approves the
transfer or assignment.   

EFFECTIVE DATE

The 91st day after adjournment.