LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 81ST LEGISLATIVE REGULAR SESSION March 14, 2009 TO: Honorable John T. Smithee, Chair, House Committee on Insurance FROM: John S. O'Brien, Director, Legislative Budget Board IN RE:HB1857 by Eiland (Relating to the sale of charitable gift annuities.), As Introduced No significant fiscal implication to the State is anticipated. The bill would amend the Insurance Code to include additional requirements for charitable gift annuities that are delivered, issued for delivery, or renewed on or after January 1, 2010. The bill would require the affected annuities to be approved by the Texas Department of Insurance (TDI). Additionally, the bill requires TDI to develop the forms and approval process for the charitable gift annuities. Based on analysis by TDI, any costs associated with implementing the provisions of this bill could be accomplished within existing agency resources. Local Government Impact No fiscal implication to units of local government is anticipated. Source Agencies:454 Department of Insurance LBB Staff: JOB, KJG, MW, CH
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 81ST LEGISLATIVE REGULAR SESSION
March 14, 2009
TO: Honorable John T. Smithee, Chair, House Committee on Insurance FROM: John S. O'Brien, Director, Legislative Budget Board IN RE:HB1857 by Eiland (Relating to the sale of charitable gift annuities.), As Introduced
TO: Honorable John T. Smithee, Chair, House Committee on Insurance
FROM: John S. O'Brien, Director, Legislative Budget Board
IN RE: HB1857 by Eiland (Relating to the sale of charitable gift annuities.), As Introduced
Honorable John T. Smithee, Chair, House Committee on Insurance
Honorable John T. Smithee, Chair, House Committee on Insurance
John S. O'Brien, Director, Legislative Budget Board
John S. O'Brien, Director, Legislative Budget Board
HB1857 by Eiland (Relating to the sale of charitable gift annuities.), As Introduced
HB1857 by Eiland (Relating to the sale of charitable gift annuities.), As Introduced
No significant fiscal implication to the State is anticipated.
No significant fiscal implication to the State is anticipated.
The bill would amend the Insurance Code to include additional requirements for charitable gift annuities that are delivered, issued for delivery, or renewed on or after January 1, 2010. The bill would require the affected annuities to be approved by the Texas Department of Insurance (TDI). Additionally, the bill requires TDI to develop the forms and approval process for the charitable gift annuities. Based on analysis by TDI, any costs associated with implementing the provisions of this bill could be accomplished within existing agency resources.
The bill would amend the Insurance Code to include additional requirements for charitable gift annuities that are delivered, issued for delivery, or renewed on or after January 1, 2010. The bill would require the affected annuities to be approved by the Texas Department of Insurance (TDI). Additionally, the bill requires TDI to develop the forms and approval process for the charitable gift annuities.
Based on analysis by TDI, any costs associated with implementing the provisions of this bill could be accomplished within existing agency resources.
Local Government Impact
No fiscal implication to units of local government is anticipated.
Source Agencies: 454 Department of Insurance
454 Department of Insurance
LBB Staff: JOB, KJG, MW, CH
JOB, KJG, MW, CH