The Insurance and Financial Advisors Political Action Committee (IFAPAC) mission is to help NAIFA advance the legislative and regulatory interests of NAIFA members and their clients by supporting campaigns of candidates for both state and federal public offices. Regardless of party IFAPAC supports legislators who understand the important role agents and advisors play in protecting the financial future of 90 million American families across the country.
IFAPAC collectively represents all the Political Action Committees (PACs) sponsored by NAIFA at the federal and state levels. Each PAC has a separate fund dedicated to supporting legislators in their jurisdiction. Of approximately 5,000 political action committees registered with the Federal Election Commission, NAIFAPAC consistently ranks in the top tier and is the insurance industry standard-setting PAC. In the last election cycle, the NAIFAPAC contributed about $1.3 million to federal candidates.
The power of IFAPAC comes from YOU, our members! By combining the resources of NAIFA members we can reach legislators on both sides of the aisle in Austin and Capitol Hill. This ensures our grassroots advocates (YOU) and professional staff are able to educate lawmakers on issues important to insurance agents, financial advisors and their clients. Learn More
The NAIFA-Texas PAC, other state IFAPACs and the NAIFAPAC contribute approximately $2.5 million to federal and state candidates and committees each election cycle. An important aspect of our work in this industry is through PAC. Being able to contribute to those who understand our association's priorities is crucial. Please remember to develop relationships with your legislators and let us know of those connections!
When you make a contribution to IFAPAC, your entire contribution is automatically directed to NAIFA's federal PAC. Your contributions will only be divided between IFAPAC National and the NAIFA-Texas PAC, if you have directed NAIFA to do so. If you would like to share your IFAPAC contribution between NAIFA's federal PAC and the NAIFA-Texas PAC, please complete and submit a NAIFA Member Directive Form to IFAPAC.
Contributing IFAPAC members may request NAIFA-Texas PAC to contribute to a specific member of the Texas House of Representatives, Texas State Senate, or a candidate by completing the NAIFA-Texas PAC Contribution Request Form. The NAIFA-Texas Political Action Committee must approve all requests. Please allow 4-6 weeks for the request to be reviewed. To request funds for a Congressional Candidate, please email firstname.lastname@example.org
Contributions to IFAPAC are voluntary and are used to contribute to campaigns of candidates for elected office. Your contributions will only be divided between the NAIFA-Texas PAC and IFAPAC National, if you have directed NAIFA to do so. You have the right to refuse to contribute without reprisal. The amount contributed will not benefit or disadvantage you in any way. Corporate contributions to IFAPAC’s political fund are prohibited. Contributions to IFAPAC are not deductible for federal income tax purposes.
88th Legislative Session Victory Highlights
HB 1587 - which will provide certain exemptions for large-group annuity contracts negotiated in a pension buyout contract, has been sent to the Governor for final approval. The bill will also clarify that the state regulates the formation and investments of separate accounts created by Texas-domiciled life insurers in a pension buyout contract.
HB 1587 received a unanimous favorable vote in both the House and Senate. It was sent to the Governor on May 22, 2023. The bill passed into law and took effect on September 1, 2023.
Bill Author(s): Rep. Tom Oliverson and Sen. Nathan Johnson
HB 1900 - which will require insurers to provide earlier notice of nonrenewal for property and casualty insurance policies, has been sent to the Governor for final approval. The bill will amend the current notice timeframe from a 30-day notice to a 60-day notice requirement, allowing policyholders more time to find replacement coverage.
HB 1900 received a unanimous favorable vote in both the House and Senate. It was sent to the Governor on May 24, 2023. The bill passed into law and took effect on September 1, 2023.
Bill Author(s): Rep. John Smithee and Sen. Lois Kolkhorst
*This was also a TDI recommendation this session.
HB 1996 - which will create a regulatory framework for group family leave insurance issued through an employer, has been sent to the Governor for final approval. The bill will give employees the option to select this coverage and receive fully insured paid family leave benefits.
HB 1996 received a favorable vote in both the House and Senate. It was sent to the Governor on May 26, 2023. The bill passed into law and took effect on September 1, 2023.
Bill Author(s): Rep. Lacey Hull and Sen. Nathan Johnson