LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 82ND LEGISLATIVE REGULAR SESSION May 13, 2011 TO: Honorable John Carona, Chair, Senate Committee on Business & Commerce FROM: John S O'Brien, Director, Legislative Budget Board IN RE:HB2655 by Sheets (Relating to notice of coverage reduction on renewal of a property/casualty insurance policy.), As Engrossed No significant fiscal implication to the State is anticipated. The bill would amend the Insurance Code relating to notice of coverage reduction on renewal of a property/casualty insurance policy. Based on the analysis provided by the Texas Department of Insurance, it is assumed that all duties and responsibilities associated with implementing the provisions of the bill could be accomplished by utilizing 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, AG, KJG, CH
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 82ND LEGISLATIVE REGULAR SESSION
May 13, 2011
TO: Honorable John Carona, Chair, Senate Committee on Business & Commerce FROM: John S O'Brien, Director, Legislative Budget Board IN RE:HB2655 by Sheets (Relating to notice of coverage reduction on renewal of a property/casualty insurance policy.), As Engrossed
TO: Honorable John Carona, Chair, Senate Committee on Business & Commerce
FROM: John S O'Brien, Director, Legislative Budget Board
IN RE: HB2655 by Sheets (Relating to notice of coverage reduction on renewal of a property/casualty insurance policy.), As Engrossed
Honorable John Carona, Chair, Senate Committee on Business & Commerce
Honorable John Carona, Chair, Senate Committee on Business & Commerce
John S O'Brien, Director, Legislative Budget Board
John S O'Brien, Director, Legislative Budget Board
HB2655 by Sheets (Relating to notice of coverage reduction on renewal of a property/casualty insurance policy.), As Engrossed
HB2655 by Sheets (Relating to notice of coverage reduction on renewal of a property/casualty insurance policy.), As Engrossed
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 relating to notice of coverage reduction on renewal of a property/casualty insurance policy. Based on the analysis provided by the Texas Department of Insurance, it is assumed that all duties and responsibilities associated with implementing the provisions of the bill could be accomplished by utilizing 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, AG, KJG, CH
JOB, AG, KJG, CH