HB 4386 Texas House · 89th Legislature (2025)

Relating to the exchange or surrender of an annuity contract.

HB 4386 standardizes the process for exchanging or surrendering annuity contracts in Texas, directly affecting annuity owners and insurance companies. The bill requires replacing insurers to submit detailed exchange requests to existing insurers, including proof that the transaction qualifies as a tax-free exchange under federal law (Section 1035). It sets strict deadlines: existing insurers must notify owners within 5 business days and transfer funds within 30 business days, unless exceptions apply (like fraud concerns or contractual terms). This creates a clearer, faster process for annuity holders moving contracts between insurers without triggering tax penalties.

Bill status signed all 5 stages cleared

Introduction

Apr 2025

Committee Review

May 2025

House Passage

May 2025

Senate Passage

May 2025

Signed into Law

Jun 2025

Introduced Apr 1, 2025 Signed Jun 20, 2025

Maddy AI version diff · 2 comparisons

What changed between versions

Engrossed → Enrolled · 3 edits · Jun 20, 2025

MINOR

The bill text was reformatted from a draft version to the final enrolled version, with minor content adjustments. The substantive policy content regarding annuity exchange and surrender procedures remains unchanged, though the final version includes an effective date of September 1, 2025, and an applicability date of January 1, 2026.

Scope change

The bill's scope remains focused on regulating annuity contract exchanges and surrenders under the Texas Insurance Code, with no substantive changes to the regulatory requirements.

TIMELINE

Added effective date of September 1, 2025, and applicability date of January 1, 2026, for new annuity exchanges or surrenders.

TECHNICAL

Converted from draft bill format to enrolled bill format with updated header information and certification signatures.

Reorganized text structure and removed draft markup indicators while preserving all substantive legal provisions.

Floor votes · House May 6, 2025

How they voted

This bill passed the Senate by voice vote (no roll call recorded).

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Amendments

Jun 20, 2025

Signed into law

Signed by the Governor

executive

May 31, 2025

Upper · Passed

Signed in the Senate

upper

May 30, 2025

Lower · Passed

Signed in the House

lower

May 28, 2025

Introduced

House concurs in Senate amendment(s)-reported

upper

May 28, 2025

Introduced

Text of Senate Amendment(s)

lower

May 28, 2025

Introduced

House concurs in Senate amendment(s)

lower

May 22, 2025

Introduced

Senate Amendments Analysis distributed

lower

May 22, 2025

Introduced

Senate Amendments distributed

lower

May 22, 2025

Lower · Passed

Senate passage as amended reported

lower

May 22, 2025

Upper · Passed

Passed

upper

May 21, 2025

Upper · Passed

Committee report printed and distributed

upper

May 20, 2025

Upper · Passed

Reported favorably as substituted

upper

May 20, 2025

Upper · Passed

Vote taken in committee

upper

May 15, 2025

Upper · Passed

Left pending in committee

upper

May 15, 2025

Upper · Passed

Testimony taken in committee

upper

May 13, 2025

Upper · Passed

No action taken in committee

upper

May 7, 2025

Committee

Referred to Business & Commerce

upper

May 7, 2025

Introduced

Read first time

upper

May 6, 2025

Introduced

Received from the House

upper

May 6, 2025

Lower · Passed

Passed

lower

May 5, 2025

Lower · Passed

Passed to engrossment

lower

Apr 29, 2025

Lower · Passed

Committee report sent to Calendars

lower

Apr 29, 2025

Lower · Passed

Committee report distributed

lower

Apr 24, 2025

Lower · Passed

Reported favorably as substituted

lower

Apr 17, 2025

Lower · Passed

Left pending in committee

lower

Apr 17, 2025

Lower · Passed

Testimony taken/registration(s) recorded in committee

lower

Apr 1, 2025

Committee

Referred to Insurance

lower

Apr 1, 2025

Introduced

Read first time

lower

2 primary · 0 co-sponsors