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TX SB264
Bill
Status
6/20/2025
Primary Sponsor
Charles Perry
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AI Summary
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Prohibits the commissioner of insurance from issuing new certificates of approval for group self-insurance under workers' compensation on or after September 1, 2025, though existing certificates may still be amended
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Requires the board of directors of the Texas self-insurance group guaranty fund to submit a revised plan of operation by December 1, 2025, detailing how to wind down and dissolve both the guaranty fund and trust fund
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Remaining money in the guaranty fund and trust fund must be distributed to "qualified groups" - those holding current certificates of approval that have not been determined insolvent
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The commissioner must review and approve the wind-down plan, then issue an order for final distribution of funds once obligations are met
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The guaranty fund, trust fund, and board of directors are formally dissolved 30 days after the commissioner issues the final distribution order
Legislative Description
Relating to discontinuing group self-insurance coverage and dissolving the Texas self-insurance group guaranty fund and trust fund under the Texas Workers' Compensation Act.
Labor
Last Action
Effective on 9/1/25
6/20/2025