LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 83RD LEGISLATIVE REGULAR SESSION March 11, 2013 TO: Honorable John Carona, Chair, Senate Committee On Business & Commerce FROM: Ursula Parks, Director, Legislative Budget Board IN RE:SB840 by Hancock (Relating to certain promotional practices not considered to be prohibited discrimination, rebates, or inducements in insurance.), As Introduced No significant fiscal implication to the State is anticipated. The bill would amend the Insurance Code relating to certain promotional practices not considered to be prohibited discrimination, rebates, or inducements in insurance. The bill would allow insurers to offer a promotional advertising item, educational item, or traditional courtesy commonly extended to consumers that is valued at $25 or less. 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, RB, MW, ER, LXH
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 83RD LEGISLATIVE REGULAR SESSION
March 11, 2013
TO: Honorable John Carona, Chair, Senate Committee On Business & Commerce FROM: Ursula Parks, Director, Legislative Budget Board IN RE:SB840 by Hancock (Relating to certain promotional practices not considered to be prohibited discrimination, rebates, or inducements in insurance.), As Introduced
TO: Honorable John Carona, Chair, Senate Committee On Business & Commerce
FROM: Ursula Parks, Director, Legislative Budget Board
IN RE: SB840 by Hancock (Relating to certain promotional practices not considered to be prohibited discrimination, rebates, or inducements in insurance.), 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
SB840 by Hancock (Relating to certain promotional practices not considered to be prohibited discrimination, rebates, or inducements in insurance.), As Introduced
SB840 by Hancock (Relating to certain promotional practices not considered to be prohibited discrimination, rebates, or inducements in insurance.), 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 certain promotional practices not considered to be prohibited discrimination, rebates, or inducements in insurance. The bill would allow insurers to offer a promotional advertising item, educational item, or traditional courtesy commonly extended to consumers that is valued at $25 or less. 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 certain promotional practices not considered to be prohibited discrimination, rebates, or inducements in insurance. The bill would allow insurers to offer a promotional advertising item, educational item, or traditional courtesy commonly extended to consumers that is valued at $25 or less.
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, RB, MW, ER, LXH
UP, RB, MW, ER, LXH