LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 87TH LEGISLATIVE REGULAR SESSION March 22, 2021 TO: Honorable Tom Oliverson, Chair, House Committee on Insurance FROM: Jerry McGinty, Director, Legislative Budget Board IN RE: HB2240 by Smithee (Relating to the disbursement of funds from a trust fund account by a title insurance company, title insurance agent, or escrow officer.), As Introduced No significant fiscal implication to the State is anticipated. The bill would amend the Insurance Code relating to the disbursement of funds from a trust fund account by a title insurance company, agent, or escrow officer. Based on information provided by the Texas Department of Insurance, this analysis assumes that the duties and responsibilities associated with implementing the provisions of the bill could be accomplished by utilizing existing resources. Local Government ImpactNo significant fiscal implication to units of local government is anticipated. Source Agencies: b > td > 454 Department of Insurance LBB Staff: b > td > JMc, AAL, MB, MPUK
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 87TH LEGISLATIVE REGULAR SESSION
March 22, 2021
TO: Honorable Tom Oliverson, Chair, House Committee on Insurance FROM: Jerry McGinty, Director, Legislative Budget Board IN RE: HB2240 by Smithee (Relating to the disbursement of funds from a trust fund account by a title insurance company, title insurance agent, or escrow officer.), As Introduced
TO: Honorable Tom Oliverson, Chair, House Committee on Insurance
FROM: Jerry McGinty, Director, Legislative Budget Board
IN RE: HB2240 by Smithee (Relating to the disbursement of funds from a trust fund account by a title insurance company, title insurance agent, or escrow officer.), As Introduced
Honorable Tom Oliverson, Chair, House Committee on Insurance
Honorable Tom Oliverson, Chair, House Committee on Insurance
Jerry McGinty, Director, Legislative Budget Board
Jerry McGinty, Director, Legislative Budget Board
HB2240 by Smithee (Relating to the disbursement of funds from a trust fund account by a title insurance company, title insurance agent, or escrow officer.), As Introduced
HB2240 by Smithee (Relating to the disbursement of funds from a trust fund account by a title insurance company, title insurance agent, or escrow officer.), 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 disbursement of funds from a trust fund account by a title insurance company, agent, or escrow officer. Based on information provided by the Texas Department of Insurance, this analysis assumes that the duties and responsibilities associated with implementing the provisions of the bill could be accomplished by utilizing existing resources.
Local Government Impact
No significant fiscal implication to units of local government is anticipated.
Source Agencies: b > td > 454 Department of Insurance
454 Department of Insurance
LBB Staff: b > td > JMc, AAL, MB, MPUK
JMc, AAL, MB, MPUK