SB 2462

relating to an interim study by the State Office of Risk Management
regarding property and casualty insurance costs incurred by public
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1.  (a)  In this section:
(1)  "Agency" means the Texas Education Agency.
(2)  "Office" means the State Office of Risk
(b)  The office shall, in collaboration with the agency,
conduct an interim study on the costs of insuring public school real
property, using information provided by the agency, to develop a
statewide strategy to lower the costs of property and casualty
insurance for public schools in this state while ensuring that all
real property owned by public schools in this state, including
buildings, facilities, and land, is adequately insured.
(c)  The agency shall require each school district and
open-enrollment charter school to submit to the agency by a date
prescribed by the agency the following information:
(1)  the total insurable value of each building or
facility owned or leased by the district or school;
(2)  the costs of property damage incurred by the
district or school during the preceding 10 years;
(3)  the cost of property and casualty insurance to
insure all of the district's or school's assets; and
(4)  the district's or school's protocols for replacing
(d)  The agency shall report the information submitted by
each school district and open-enrollment charter school to the
office by a date prescribed by the office.
(e)  In conducting the interim study under Subsection (b) of
this section, the office shall collect information and solicit
input from risk pools in which school districts and open-enrollment
(f)  Not later than September 1, 2026, the office shall
prepare and submit to the legislature and each risk pool described
by Subsection (e) of this section a report regarding the office's
findings and recommendations based on the interim study conducted
under this section. The report must include recommendations
(1)  a statewide strategy to lower the costs of
property and casualty insurance for public schools in this state
while ensuring that all real property owned by public schools in
this state is adequately insured;
(2)  actions school districts and open-enrollment
charter schools can individually take to alleviate property and
(3)  actions risk pools in which school districts and
open-enrollment charter schools participate can take to lower costs
and remain resilient in the long term; and
(4)  if the office recommends creating a statewide risk
pool to provide property and casualty insurance to school districts
and open-enrollment charter schools, the amount necessary for the
state to allocate to create that risk pool and the estimated savings
(g)  This section expires September 1, 2027.
SECTION 2.  This Act takes effect immediately if it receives
a vote of two-thirds of all the members elected to each house, as
provided by Section 39, Article III, Texas Constitution.  If this
Act does not receive the vote necessary for immediate effect, this
Act takes effect September 1, 2025.