Pandemic Darlings The pandemic economy, in original documents
Home Source documents Bill No. PCS for CS/HB 305 (2021), Amendment No. 2 — Commerce Committee

Bill No. PCS for CS/HB 305 (2021), Amendment No. 2 — Commerce Committee

Summary

Committee/Subcommittee Amendment No. 2 to Bill No. PCS for CS/HB 305 (2021), offered by Representative Geller for the Commerce Committee hearing, described as an amendment with title amendment. It inserts between lines 1316 and 1317 a Section 16 providing that before December 31, 2021, a property insurer may not apply any rate change to an HO-3, HO-4, or HO-6 policy. The text states that the rate paid by a policyholder for such a policy must decrease by at least 6.2 percent per year during 2022, 2023, and 2024. The reduction may be provided through rate decreases, discounts, or credits. A title amendment inserts matching language.

Summary drafted by a model from the document's text below and checked by script against that text before publication. It is a navigation aid, not a reading of what the document proves. Where AI is used

Cite this document

“Bill No. PCS for CS/HB 305 (2021), Amendment No. 2 — Commerce Committee.” Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/2021-3098-commerce-committee-proposed-committee-bill-amendments-fn-pcs-94262e6fb1/, SHA-256 2e11ba42ac619dd1630315df852532c34ef490db473aad703b0af1540e4ea542.

Full text

                                          COMMITTEE/SUBCOMMITTEE AMENDMENT
                                        Bill No. PCS for CS/HB 305     (2021)
       Amendment No. 2




            COMMITTEE/SUBCOMMITTEE ACTION
       ADOPTED                         (Y/N)
       ADOPTED AS AMENDED              (Y/N)
       ADOPTED W/O OBJECTION           (Y/N)
       FAILED TO ADOPT                 (Y/N)
       WITHDRAWN                       (Y/N)
       OTHER


1      Committee/Subcommittee hearing bill:       Commerce Committee
2      Representative Geller offered the following:
3
4           Amendment (with title amendment)
5           Between lines 1316 and 1317, insert:
6           Section 16.     Before December 31, 2021, a property insurer
7      may not apply any rate change to an HO-3, HO-4, or HO-6 policy.
8      During 2022, 2023, and 2024, the rate paid by a policyholder for
9      an HO-3, HO-4, or HO-6 policy must decrease by at least 6.2
10     percent per year compared to a similar property insurance policy
11     from the previous year with substantially the same coverage. The
12     6.2 percent rate reduction may be provided through rate
13     decreases, discounts, or credits toward the insurance policy
14     issued or renewed in years 2022, 2023, and 2024.
15
16             -----------------------------------------------------
     PCS for CSHB 305 a2
     Published On: 4/22/2021 9:34:18 PM
                                    Page 1 of 2
                                          COMMITTEE/SUBCOMMITTEE AMENDMENT
                                        Bill No. PCS for CS/HB 305   (2021)
       Amendment No. 2


17                         T I T L E   A M E N D M E N T
18          Between lines 103 and 104, insert:
19          prohibiting rate changes in property insurance for
20          certain policies before a specified date; requiring a
21          minimum percent in policy rate reduction for specified
22          years; providing possible types of rate reduction;




     PCS for CSHB 305 a2
     Published On: 4/22/2021 9:34:18 PM
                                   Page 2 of 2

File and source

File
2021_3098_commerce-committee_proposed-committee-bill-amendments_fn-pcs-for-cshb-305-a2.pdf
Size
114,467 bytes
SHA-256
2e11ba42ac619dd1630315df852532c34ef490db473aad703b0af1540e4ea542
Our copy
2021_3098_commerce-committee_proposed-committee-bill-amendments_fn-pcs-for-cshb-305-a2.pdf
Original
No public link identified.
Back to top