LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 84TH LEGISLATIVE REGULAR SESSION April 8, 2015 TO: Honorable Kevin Eltife, Chair, Senate Committee on Business & Commerce FROM: Ursula Parks, Director, Legislative Budget Board IN RE:SB539 by Perry (Relating to reinsurance financial statement credit and accounting.), As Introduced 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, CL, ER
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 84TH LEGISLATIVE REGULAR SESSION
April 8, 2015
TO: Honorable Kevin Eltife, Chair, Senate Committee on Business & Commerce FROM: Ursula Parks, Director, Legislative Budget Board IN RE:SB539 by Perry (Relating to reinsurance financial statement credit and accounting.), As Introduced
TO: Honorable Kevin Eltife, Chair, Senate Committee on Business & Commerce
FROM: Ursula Parks, Director, Legislative Budget Board
IN RE: SB539 by Perry (Relating to reinsurance financial statement credit and accounting.), As Introduced
Honorable Kevin Eltife, Chair, Senate Committee on Business & Commerce
Honorable Kevin Eltife, Chair, Senate Committee on Business & Commerce
Ursula Parks, Director, Legislative Budget Board
Ursula Parks, Director, Legislative Budget Board
SB539 by Perry (Relating to reinsurance financial statement credit and accounting.), As Introduced
SB539 by Perry (Relating to reinsurance financial statement credit and accounting.), 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 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, CL, ER
UP, CL, ER