LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 83RD LEGISLATIVE REGULAR SESSION April 1, 2013 TO: Honorable John Carona, Chair, Senate Committee on Business & Commerce FROM: Ursula Parks, Director, Legislative Budget Board IN RE:SB1622 by Duncan (Relating to credit to certain ceding insurers for reinsurance ceded to certain certified assuming insurers.), As Introduced No significant fiscal implication to the State is anticipated. The bill would amend the Insurance Code relating to credit to certain ceding insurers for reinsurance ceded to certain certified assuming insurers. The bill applies only to a reinsurance contract that is entered into or renewed on or after January 1, 2014. Based on information provided by the Texas Department of Insurance, it is assumed that any costs associated with the implementation of this bill could 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, RB, MW, ER, LXH
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 83RD LEGISLATIVE REGULAR SESSION
April 1, 2013
TO: Honorable John Carona, Chair, Senate Committee on Business & Commerce FROM: Ursula Parks, Director, Legislative Budget Board IN RE:SB1622 by Duncan (Relating to credit to certain ceding insurers for reinsurance ceded to certain certified assuming insurers.), As Introduced
TO: Honorable John Carona, Chair, Senate Committee on Business & Commerce
FROM: Ursula Parks, Director, Legislative Budget Board
IN RE: SB1622 by Duncan (Relating to credit to certain ceding insurers for reinsurance ceded to certain certified assuming insurers.), As Introduced
Honorable John Carona, Chair, Senate Committee on Business & Commerce
Honorable John Carona, Chair, Senate Committee on Business & Commerce
Ursula Parks, Director, Legislative Budget Board
Ursula Parks, Director, Legislative Budget Board
SB1622 by Duncan (Relating to credit to certain ceding insurers for reinsurance ceded to certain certified assuming insurers.), As Introduced
SB1622 by Duncan (Relating to credit to certain ceding insurers for reinsurance ceded to certain certified assuming insurers.), 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 credit to certain ceding insurers for reinsurance ceded to certain certified assuming insurers. The bill applies only to a reinsurance contract that is entered into or renewed on or after January 1, 2014. Based on information provided by the Texas Department of Insurance, it is assumed that any costs associated with the implementation of this bill could be absorbed within existing staff and resources.
The bill would amend the Insurance Code relating to credit to certain ceding insurers for reinsurance ceded to certain certified assuming insurers. The bill applies only to a reinsurance contract that is entered into or renewed on or after January 1, 2014.
Based on information provided by the Texas Department of Insurance, it is assumed that any costs associated with the implementation of this bill could 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, RB, MW, ER, LXH
UP, RB, MW, ER, LXH