LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 84TH LEGISLATIVE REGULAR SESSION April 7, 2015 TO: Honorable John Frullo, Chair, House Committee on Insurance FROM: Ursula Parks, Director, Legislative Budget Board IN RE:HB2317 by Frullo (Relating to reinsurance financial statement credit and accounting.), Committee Report 1st House, Substituted No significant fiscal implication to the State is anticipated. The bill would amend the Insurance Code relating to reinsurance financial statement credit and accounting.Based on information provided by the Texas Department of Insurance, it is assumed that all duties and responsibilities necessary to implement the provisions of the bill could be accomplished within existing resources.The bill would take effect September 1, 2015, but would only apply to a reinsurance contract that is entered into or renewed on or after January 1, 2016. Local Government Impact No fiscal implication to units of local government is anticipated. Source Agencies:454 Department of Insurance LBB Staff: UP, AG, ER, NHe
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 84TH LEGISLATIVE REGULAR SESSION
April 7, 2015
TO: Honorable John Frullo, Chair, House Committee on Insurance FROM: Ursula Parks, Director, Legislative Budget Board IN RE:HB2317 by Frullo (Relating to reinsurance financial statement credit and accounting.), Committee Report 1st House, Substituted
TO: Honorable John Frullo, Chair, House Committee on Insurance
FROM: Ursula Parks, Director, Legislative Budget Board
IN RE: HB2317 by Frullo (Relating to reinsurance financial statement credit and accounting.), Committee Report 1st House, Substituted
Honorable John Frullo, Chair, House Committee on Insurance
Honorable John Frullo, Chair, House Committee on Insurance
Ursula Parks, Director, Legislative Budget Board
Ursula Parks, Director, Legislative Budget Board
HB2317 by Frullo (Relating to reinsurance financial statement credit and accounting.), Committee Report 1st House, Substituted
HB2317 by Frullo (Relating to reinsurance financial statement credit and accounting.), Committee Report 1st House, Substituted
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 reinsurance financial statement credit and accounting.Based on information provided by the Texas Department of Insurance, it is assumed that all duties and responsibilities necessary to implement the provisions of the bill could be accomplished within existing resources.The bill would take effect September 1, 2015, but would only apply to a reinsurance contract that is entered into or renewed on or after January 1, 2016.
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, NHe
UP, AG, ER, NHe