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A BILL TO BE ENTITLED
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AN ACT
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relating to the administration of the certified capital company |
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program by the office of the comptroller of public accounts. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Effective December 31, 2018, Chapter 228, |
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Insurance Code, is repealed. |
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SECTION 2. The repeal by this Act of Chapter 228, Insurance |
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Code, does not affect premium tax credits for certified capital |
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invested under that chapter before the effective date of the repeal |
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and the recapture of those credits. Premium tax credits for |
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certified capital invested before the effective date of the repeal |
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and the recapture of those credits are governed by the law as it |
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existed immediately before that date, and that law is continued in |
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effect for that purpose. |
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SECTION 3. This Act takes effect immediately if it receives |
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a vote of two-thirds of all the members elected to each house, as |
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provided by Section 39, Article III, Texas Constitution. If this |
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Act does not receive the vote necessary for immediate effect, this |
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Act takes effect September 1, 2017. |