S.B. No. 264 is a legislative act aimed at discontinuing group self-insurance coverage and dissolving the Texas self-insurance group guaranty fund and trust fund under the Texas Workers' Compensation Act. The bill introduces new provisions in the Labor Code, specifically Section 407A.0521, which prohibits the commissioner from issuing new certificates of approval to proposed groups after September 1, 2025, while allowing amendments to existing certificates issued before that date. Additionally, Section 407A.4561 outlines the process for winding down the guaranty fund and trust fund, requiring the board to submit a revised plan of operation for approval, which includes steps for distributing remaining funds to qualified groups and notifying interested parties.

The bill mandates that the board must implement the approved plan and notify the commissioner upon completion of the wind down. The commissioner is tasked with determining if the guaranty fund has met its obligations under the plan, and if so, will issue an order for the distribution of remaining funds. The guaranty fund and trust fund will be officially dissolved, and the board abolished, 30 days after the commissioner issues this order. The act is set to take effect on September 1, 2025, with a requirement for the board to submit the revised plan by December 1, 2025.

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