LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 82ND LEGISLATIVE REGULAR SESSION April 1, 2011 TO: Honorable John T. Smithee, Chair, House Committee on Insurance FROM: John S O'Brien, Director, Legislative Budget Board IN RE:HB504 by Menendez (Relating to partial surrender of or withdrawals from annuity contracts, life insurance policies, and endowment contracts.), As Introduced No significant fiscal implication to the State is anticipated. The bill would amend the Insurance Code relating to partial surrender of or withdrawals from annuity contracts, life insurance policies, and endowment contracts. Based on the analysis 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 resources. Local Government Impact No fiscal implication to units of local government is anticipated. Source Agencies:454 Department of Insurance LBB Staff: JOB, KJG, CH
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 82ND LEGISLATIVE REGULAR SESSION
April 1, 2011
TO: Honorable John T. Smithee, Chair, House Committee on Insurance FROM: John S O'Brien, Director, Legislative Budget Board IN RE:HB504 by Menendez (Relating to partial surrender of or withdrawals from annuity contracts, life insurance policies, and endowment contracts.), As Introduced
TO: Honorable John T. Smithee, Chair, House Committee on Insurance
FROM: John S O'Brien, Director, Legislative Budget Board
IN RE: HB504 by Menendez (Relating to partial surrender of or withdrawals from annuity contracts, life insurance policies, and endowment contracts.), 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
HB504 by Menendez (Relating to partial surrender of or withdrawals from annuity contracts, life insurance policies, and endowment contracts.), As Introduced
HB504 by Menendez (Relating to partial surrender of or withdrawals from annuity contracts, life insurance policies, and endowment contracts.), 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 relating to partial surrender of or withdrawals from annuity contracts, life insurance policies, and endowment contracts. Based on the analysis 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 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, CH
JOB, KJG, CH