Texas SB2530 amends the Texas Windstorm Insurance Association's operations, including setting administrative penalties and adjusting assessments.

Texas SB2530 amends the Texas Windstorm Insurance Association's operations by exempting it from insurance premium tax, maintenance fee, or tax. It mandates the association to file a proposed manual rate for all risks annually and sets administrative penalties for lobbying activities. The association must maintain total available loss funding and may not adjust premiums for inflation without a board vote. The association's headquarters must be in a coastal county, and its board must include representatives from various regions and industries.

Texas SB2530 amends the Texas Windstorm Insurance Association's operations, including setting administrative penalties and adjusting assessments.

Texas SB2530 amends the Texas Windstorm Insurance Association's operations by exempting it from insurance premium tax, maintenance fee, or tax. It mandates the association to file a proposed manual rate for all risks annually and sets administrative penalties for lobbying activities. The association must maintain total available loss funding and may not adjust premiums for inflation without a board vote. The association's headquarters must be in a coastal county, and its board must include representatives from various regions and industries.