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

The bill mandates that the board of directors submit the revised plan to the commissioner by December 1, 2025, and establishes a timeline for the dissolution process. If the commissioner determines that the guaranty fund has met its obligations under the approved plan, an order will be issued for the distribution of remaining funds, leading to the dissolution of both the guaranty fund and the trust fund, as well as the abolition of the board. The act is set to take effect on September 1, 2025.

Statutes affected:
Introduced: ()
Senate Committee Report: ()
Engrossed: ()
House Committee Report: ()
Enrolled: ()