Texas Insurance Code 2210.454 – Mitigation and Preparedness Plan
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(a) The commissioner shall annually develop and implement a mitigation and preparedness plan.
(b) Each state fiscal year, the department may fund the mitigation and preparedness plan using available funds.
Terms Used In Texas Insurance Code 2210.454
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
(c) The mitigation and preparedness plan must provide for actions to be taken in the seacoast territory by the commissioner, or by a local government, state agency, educational institution, or nonprofit organization designated by the commissioner in the plan, to implement programs to:
(1) improve preparedness for windstorm and hail catastrophes;
(2) reduce potential losses in the event of such a catastrophe; and
(3) provide research into the means to:
(A) reduce those losses;
(B) educate or inform the public in determining the appropriateness of particular upgrades to structures; or
(C) protect infrastructure from potential damage from those catastrophes.
(d) Money in excess of $1 million may not be used under this section if the commissioner determines that an expenditure of investment income from the trust fund would jeopardize the actuarial soundness of the fund or materially impair the ability of the fund to serve the state purposes for which the fund was established.