LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 81ST LEGISLATIVE REGULAR SESSION April 9, 2009 TO: Honorable Troy Fraser, Chair, Senate Committee on Business & Commerce FROM: John S. O'Brien, Director, Legislative Budget Board IN RE:SB685 by Lucio (Relating to authorizing the commissioner of insurance to further regulate the financial security and operations of certain insurance companies through local districts or chapters.), As Introduced No significant fiscal implication to the State is anticipated. The bill would amend the Insurance Code to increase regulation of the financial security and operations of certain insurance companies. The bill would require the Department of Insurance (TDI) to adopt rules to provide a transition period for insurance companies to comply with the requirements of the bill. Based on analysis provided by TDI, any costs associated with implementing the provisions of the bill could be absorbed 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, JRO, CH
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 81ST LEGISLATIVE REGULAR SESSION
April 9, 2009
TO: Honorable Troy Fraser, Chair, Senate Committee on Business & Commerce FROM: John S. O'Brien, Director, Legislative Budget Board IN RE:SB685 by Lucio (Relating to authorizing the commissioner of insurance to further regulate the financial security and operations of certain insurance companies through local districts or chapters.), As Introduced
TO: Honorable Troy Fraser, Chair, Senate Committee on Business & Commerce
FROM: John S. O'Brien, Director, Legislative Budget Board
IN RE: SB685 by Lucio (Relating to authorizing the commissioner of insurance to further regulate the financial security and operations of certain insurance companies through local districts or chapters.), As Introduced
Honorable Troy Fraser, Chair, Senate Committee on Business & Commerce
Honorable Troy Fraser, Chair, Senate Committee on Business & Commerce
John S. O'Brien, Director, Legislative Budget Board
John S. O'Brien, Director, Legislative Budget Board
SB685 by Lucio (Relating to authorizing the commissioner of insurance to further regulate the financial security and operations of certain insurance companies through local districts or chapters.), As Introduced
SB685 by Lucio (Relating to authorizing the commissioner of insurance to further regulate the financial security and operations of certain insurance companies through local districts or chapters.), 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 increase regulation of the financial security and operations of certain insurance companies. The bill would require the Department of Insurance (TDI) to adopt rules to provide a transition period for insurance companies to comply with the requirements of the bill. Based on analysis provided by TDI, any costs associated with implementing the provisions of the bill could be absorbed within existing agency resources.
The bill would amend the Insurance Code to increase regulation of the financial security and operations of certain insurance companies. The bill would require the Department of Insurance (TDI) to adopt rules to provide a transition period for insurance companies to comply with the requirements of the bill. Based on analysis provided by TDI, any costs associated with implementing the provisions of the bill could be absorbed 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, JRO, CH
JOB, JRO, CH