Bill > HB2473

This bill establishes two new emergency insurance premium relief programs in Texas to help homeowners struggling with property insurance payments. The first program creates an emergency residential property insurance premium relief fund and program for individual homeowners, and the second program creates a similar fund and program for association (likely homeowners' association) policies. Both programs are designed to help homeowners with residence homesteads valued at $2 million or less who are experiencing economic hardship and have at least one delinquent insurance premium payment. Eligible policyholders can apply to the state department for a relief payment that will be sent directly to their insurance provider or association to cover the delinquent premium. Each program has specific provisions that limit applicants to one relief payment, require the funds to be used solely for the intended insurance premium, and mandate that the state insurance commissioner develop detailed rules for application, disbursement, and monitoring of the programs. The funds for these programs will come from legislative appropriations, gifts, grants, and investment earnings, and can only be used to implement and administer the relief programs. The bill is set to take effect on September 1, 2025, giving state agencies time to develop the necessary infrastructure and rules for these new assistance programs.

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https://capitol.texas.gov/BillLookup/History.aspx?LegSess=89R&Bill=HB2473