LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 84TH LEGISLATIVE REGULAR SESSION April 14, 2015 TO: Honorable John Frullo, Chair, House Committee on Insurance FROM: Ursula Parks, Director, Legislative Budget Board IN RE:HB2586 by Smithee (Relating to rulemaking authority for annuity contracts.), As Introduced No significant fiscal implication to the State is anticipated. The bill would amend the Insurance Code relating to rulemaking authority for annuity contracts.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 utilizing existing staff and resources. The bill would take effect immediately if it received a vote of two-thirds of all the members elected to each house, as provided by Section 39, Article III, Texas Constitution. If the bill did not receive the vote necessary for immediate effect, it would take effect September 1, 2015. 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 14, 2015
TO: Honorable John Frullo, Chair, House Committee on Insurance FROM: Ursula Parks, Director, Legislative Budget Board IN RE:HB2586 by Smithee (Relating to rulemaking authority for annuity contracts.), As Introduced
TO: Honorable John Frullo, Chair, House Committee on Insurance
FROM: Ursula Parks, Director, Legislative Budget Board
IN RE: HB2586 by Smithee (Relating to rulemaking authority for annuity contracts.), As Introduced
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
HB2586 by Smithee (Relating to rulemaking authority for annuity contracts.), As Introduced
HB2586 by Smithee (Relating to rulemaking authority for annuity contracts.), 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 rulemaking authority for annuity contracts.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 utilizing existing staff and resources. The bill would take effect immediately if it received a vote of two-thirds of all the members elected to each house, as provided by Section 39, Article III, Texas Constitution. If the bill did not receive the vote necessary for immediate effect, it would take effect September 1, 2015.
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