Rep. Todd Hunter announced that House Bill 3689 has been approved by the Texas Legislature to enhance the long-term stability of the Texas Windstorm Insurance Association (TWIA) for coastal property owners.
Gov. Greg Abbott will decide whether to sign House Bill 3689, which proposes a limited, tax-exempt surcharge on property insurance policies to repay money from the Economic Stabilization Fund. The surcharge would last up to three years and support a new funding model for TWIA without adding state debt. The legislative session ends June 2, and the governor has until June 22 to take action on the bill, according to a press release.
“This fiscally responsible legislation received strong bipartisan support in the Legislature. I especially want to thank Senator Lois Kolkhorst for sponsoring this bill in the Senate, where her strong leadership was decisive. Working together, we are on the verge of delivering a significant win for all property owners who rely on TWIA,” said Hunter, according to a press release.
House Bill 3689 addresses funding for TWIA’s excess losses and operating costs through an authorized assessment and temporary surcharge. According to LegiScan, the bill was supported by a bipartisan group of legislators and had progressed to 75% completion after being enrolled on May 31.
Hunter is a member of the Texas House of Representatives for District 32. He was born in Bartlesville, Oklahoma, and earned a bachelor’s degree from Kansas University in 1975 and a law degree from Southern Methodist University in 1978. He moved to Corpus Christi, Texas, that same year and practices civil law. First elected in 1988, he served until 1997 and returned to the House in 2008. He has held roles on various committees, including Redistricting, Calendars, State Affairs, and Criminal Jurisprudence. His work has been recognized by several organizations with awards related to legislative activity and policy contributions, according to his website.