LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 85TH LEGISLATIVE REGULAR SESSION April 24, 2017 TO: Honorable Kelly Hancock, Chair, Senate Committee on Business & Commerce FROM: Ursula Parks, Director, Legislative Budget Board IN RE:SB1070 by Hancock (Relating to authorized reinsurance and financial statement credit and accounting for reinsurance.), Committee Report 1st House, Substituted No significant fiscal implication to the State is anticipated. This bill would amend the Insurance Code relating to authorized reinsurance and financial statement credit and accounting for reinsurance. Based on information provided by the Texas Department of Insurance, this analysis assumes the duties and responsibilities associated with implementing the provisions of the bill could be accomplished by utilizing existing resources. Local Government Impact No fiscal implication to units of local government is anticipated. Source Agencies:454 Department of Insurance LBB Staff: UP, CL, EH, CP
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 85TH LEGISLATIVE REGULAR SESSION
April 24, 2017
TO: Honorable Kelly Hancock, Chair, Senate Committee on Business & Commerce FROM: Ursula Parks, Director, Legislative Budget Board IN RE:SB1070 by Hancock (Relating to authorized reinsurance and financial statement credit and accounting for reinsurance.), Committee Report 1st House, Substituted
TO: Honorable Kelly Hancock, Chair, Senate Committee on Business & Commerce
FROM: Ursula Parks, Director, Legislative Budget Board
IN RE: SB1070 by Hancock (Relating to authorized reinsurance and financial statement credit and accounting for reinsurance.), Committee Report 1st House, Substituted
Honorable Kelly Hancock, Chair, Senate Committee on Business & Commerce
Honorable Kelly Hancock, Chair, Senate Committee on Business & Commerce
Ursula Parks, Director, Legislative Budget Board
Ursula Parks, Director, Legislative Budget Board
SB1070 by Hancock (Relating to authorized reinsurance and financial statement credit and accounting for reinsurance.), Committee Report 1st House, Substituted
SB1070 by Hancock (Relating to authorized reinsurance and financial statement credit and accounting for reinsurance.), Committee Report 1st House, Substituted
No significant fiscal implication to the State is anticipated.
No significant fiscal implication to the State is anticipated.
This bill would amend the Insurance Code relating to authorized reinsurance and financial statement credit and accounting for reinsurance. Based on information provided by the Texas Department of Insurance, this analysis assumes the duties and responsibilities associated with implementing the provisions of the bill could be accomplished by utilizing existing 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, CL, EH, CP
UP, CL, EH, CP