The Texas Captive Insurance Association (TxCIA) has confirmed that SB 667 has passed its third and final reading in the House of Representatives and is currently awaiting the governor’s signature.
If signed into law, the bill will authorise pooling, credit for reinsurance, and equity dividends in the state.
After passing out of the Senate several weeks ago, SB 667 was sent to the House where House member John Smithee acted as sponsor.
The TxCIA also said that another bill, HB 2557, had been passed earlier in the week. While this bill was not one drafted by TxCIA, it did file a card of support for it.
HB 2557 bill allows county hospital districts the ability to form captives under Texas law, either on their own or in conjunction with another hospital district.
