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.