Bill

HB 2694

86(R) - 2019
House Insurance
Senate Business & Commerce
House Insurance
Senate Business & Commerce

Contact the Author

Eddie Lucio III

Phone:

512-463-0606

Capitol Office:

Room GN.8

Email:

Vote Recommendation

Neutral
  • Neutral
  • Neutral
  • Neutral
  • Neutral
  • Neutral

Author(s)

Eddie Lucio III

Sponsor(s)

Brandon Creighton

Bill Caption

Relating to the authority of certain insurers to make investments in bond exchange-traded funds.

Fiscal Notes

No significant fiscal implication to the State is anticipated.

Bill Analysis

In current financial situations, an exchange-traded fund operates as an investment fund that is traded on stock exchanges.

HB 2694 would authorize certain insurers to exchange investments through bond-traded funds. Shares that would come from these bonds must be in compliance with the Investment Company Act of 1940.

The bill also sets out a list of financial obligations that the exchange must include such as the percentages of the assets that can be used from the insurer, and conditions that would be required if the exchange traded fund was considered to be solvent.

Vote Recommendation Notes

Texas Action remains neutral on HB 2694 as it neither advances nor hinders any of our liberty principles.

Contact the Author

Eddie Lucio III

Phone:

512-463-0606

Capitol Office:

Room GN.8

Email: