LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 83RD LEGISLATIVE REGULAR SESSION March 22, 2013 TO: Honorable John Carona, Chair, Senate Committee on Business & Commerce FROM: Ursula Parks, Director, Legislative Budget Board IN RE:SB650 by Rodríguez (Relating to the continuation of title insurance coverage of certain transferred property.), As Introduced No significant fiscal implication to the State is anticipated. The bill would amend the Insurance Code relating to the continuation of title insurance coverage of certain transferred property. The bill would expand the scope of individuals who would be covered under current rules that provide for continuation of coverage subject to rights and defenses against the original named insured. Based on information provided by the 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: UP, RB, ER
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 83RD LEGISLATIVE REGULAR SESSION
March 22, 2013
TO: Honorable John Carona, Chair, Senate Committee on Business & Commerce FROM: Ursula Parks, Director, Legislative Budget Board IN RE:SB650 by Rodríguez (Relating to the continuation of title insurance coverage of certain transferred property.), As Introduced
TO: Honorable John Carona, Chair, Senate Committee on Business & Commerce
FROM: Ursula Parks, Director, Legislative Budget Board
IN RE: SB650 by Rodríguez (Relating to the continuation of title insurance coverage of certain transferred property.), 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
SB650 by Rodríguez (Relating to the continuation of title insurance coverage of certain transferred property.), As Introduced
SB650 by Rodríguez (Relating to the continuation of title insurance coverage of certain transferred property.), 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 continuation of title insurance coverage of certain transferred property. The bill would expand the scope of individuals who would be covered under current rules that provide for continuation of coverage subject to rights and defenses against the original named insured. Based on information provided by the 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.
The bill would amend the Insurance Code relating to the continuation of title insurance coverage of certain transferred property. The bill would expand the scope of individuals who would be covered under current rules that provide for continuation of coverage subject to rights and defenses against the original named insured.
Based on information provided by the 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: UP, RB, ER
UP, RB, ER