LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 83RD LEGISLATIVE REGULAR SESSION April 15, 2013 TO: Honorable John T. Smithee, Chair, House Committee on Insurance FROM: Ursula Parks, Director, Legislative Budget Board IN RE:HB2086 by McClendon (Relating to the limitations period for bringing an action arising from certain insurance claims.), As Introduced No significant fiscal implication to the State is anticipated. The bill would amend the Insurance Code relating to the limitations period for bringing an action arising from certain insurance claims. The bill would require a person to bring action arising from an issue regarding the payment of a claim not later than four years after the date of the denial of the claim or the act or omission giving rise to the cause of action. The bill would apply only to a cause of action that accrues on or after September 1, 2013, and a cause of action that accrues before September 1, 2013 would be governed by current law. Based on information provided by the Texas Department of Insurance, it is assumed that any costs associated with the implementation of this bill would be absorbed within existing staff and resources. Local Government Impact No fiscal implication to units of local government is anticipated. Source Agencies:454 Department of Insurance LBB Staff: UP, AG, ER, LXH
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 83RD LEGISLATIVE REGULAR SESSION
April 15, 2013
TO: Honorable John T. Smithee, Chair, House Committee on Insurance FROM: Ursula Parks, Director, Legislative Budget Board IN RE:HB2086 by McClendon (Relating to the limitations period for bringing an action arising from certain insurance claims.), As Introduced
TO: Honorable John T. Smithee, Chair, House Committee on Insurance
FROM: Ursula Parks, Director, Legislative Budget Board
IN RE: HB2086 by McClendon (Relating to the limitations period for bringing an action arising from certain insurance claims.), As Introduced
Honorable John T. Smithee, Chair, House Committee on Insurance
Honorable John T. Smithee, Chair, House Committee on Insurance
Ursula Parks, Director, Legislative Budget Board
Ursula Parks, Director, Legislative Budget Board
HB2086 by McClendon (Relating to the limitations period for bringing an action arising from certain insurance claims.), As Introduced
HB2086 by McClendon (Relating to the limitations period for bringing an action arising from certain insurance claims.), 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 the limitations period for bringing an action arising from certain insurance claims. The bill would require a person to bring action arising from an issue regarding the payment of a claim not later than four years after the date of the denial of the claim or the act or omission giving rise to the cause of action. The bill would apply only to a cause of action that accrues on or after September 1, 2013, and a cause of action that accrues before September 1, 2013 would be governed by current law. Based on information provided by the Texas Department of Insurance, it is assumed that any costs associated with the implementation of this bill would be absorbed within existing staff and resources.
The bill would amend the Insurance Code relating to the limitations period for bringing an action arising from certain insurance claims. The bill would require a person to bring action arising from an issue regarding the payment of a claim not later than four years after the date of the denial of the claim or the act or omission giving rise to the cause of action. The bill would apply only to a cause of action that accrues on or after September 1, 2013, and a cause of action that accrues before September 1, 2013 would be governed by current law.
Based on information provided by the Texas Department of Insurance, it is assumed that any costs associated with the implementation of this bill would be absorbed within existing staff and 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: UP, AG, ER, LXH
UP, AG, ER, LXH