TITLE: Relating to the administration of the Texas certified self-insurer guaranty trust fund.

SUMMARY: Relating to the administration of the Texas certified self-insurer guaranty trust fund.

FULL TEXT:
AN ACT relating to the administration of the Texas certified self-insurer guaranty trust fund. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: SECTION 1. Sections 407.126(a) and (b), Labor Code, are amended to read as follows: (a) Each member of the association shall be assessed an annual [a] fee, based on total amount of income benefits payments made in this state for the preceding reported calendar year, to maintain [create, over a period of 10 years beginning January 1, 1993] a Texas certified self-insurer guaranty trust fund of at least $2 [$1] million for the emergency payment of the compensation liabilities of an impaired employer. The fund may not exceed three percent of the combined value of the security deposits of all certified self-insurers [$2 million].(b) The board of directors shall submit to the commissioner for approval a recommended balance of the trust fund. On approval by the commissioner of the recommended balance, the board of directors shall adopt a year-by-year schedule of assessments to meet the [10-year] funding goal of the [trust] fund. SECTION 2. This Act takes effect September 1, 2017.