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:HB3980 by Frullo (Relating to the creation of a coverage summary for certain property and casualty insurance policies.), As Introduced No significant fiscal implication to the State is anticipated. The bill would amend the Insurance Code relating to the creation of a coverage summary for certain property and casualty insurance policies.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 takes effect September 1, 2015; however, any changes to law as a result of the passage of this bill applies only to an insurance policy that is delivered, issued for delivery, 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
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:HB3980 by Frullo (Relating to the creation of a coverage summary for certain property and casualty insurance policies.), As Introduced
TO: Honorable John Frullo, Chair, House Committee on Insurance
FROM: Ursula Parks, Director, Legislative Budget Board
IN RE: HB3980 by Frullo (Relating to the creation of a coverage summary for certain property and casualty insurance policies.), 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
HB3980 by Frullo (Relating to the creation of a coverage summary for certain property and casualty insurance policies.), As Introduced
HB3980 by Frullo (Relating to the creation of a coverage summary for certain property and casualty insurance policies.), 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 creation of a coverage summary for certain property and casualty insurance policies.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 takes effect September 1, 2015; however, any changes to law as a result of the passage of this bill applies only to an insurance policy that is delivered, issued for delivery, 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
UP, AG, ER