LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 87TH LEGISLATIVE REGULAR SESSION May 20, 2021 TO: Honorable Kelly Hancock, Chair, Senate Committee on Business & Commerce 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.), Committee Report 2nd House, Substituted 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, SZ, MB, MPUK, AAL
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 87TH LEGISLATIVE REGULAR SESSION
May 20, 2021
TO: Honorable Kelly Hancock, Chair, Senate Committee on Business & Commerce 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.), Committee Report 2nd House, Substituted
TO: Honorable Kelly Hancock, Chair, Senate Committee on Business & Commerce
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.), Committee Report 2nd House, Substituted
Honorable Kelly Hancock, Chair, Senate Committee on Business & Commerce
Honorable Kelly Hancock, Chair, Senate Committee on Business & Commerce
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.), Committee Report 2nd House, Substituted
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.), Committee Report 2nd House, Substituted
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, SZ, MB, MPUK, AAL
JMc, SZ, MB, MPUK, AAL