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: HB2547 by Oliverson (Relating to the modernization of regulation of commercial property and casualty insurance.), As Introduced No significant fiscal implication to the State is anticipated. It is assumed that the costs associated with the bill's provisions relating to the State Office of Risk Management could be absorbed using existing resources. The Texas Department of Insurance does not anticipate a significant fiscal impact related to the bill's implementation. Based on the Comptroller of Public Accounts analysis, premium tax revenue would increase however, the fiscal impact on the state cannot be determined. Local Government ImpactNo significant fiscal implication to units of local government is anticipated. Source Agencies: b > td > 304 Comptroller of Public Accounts, 454 Department of Insurance, 479 State Office of Risk Management LBB Staff: b > td > JMc, AAL, LCO, SMAT
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: HB2547 by Oliverson (Relating to the modernization of regulation of commercial property and casualty insurance.), As Introduced
TO: Honorable Tom Oliverson, Chair, House Committee on Insurance
FROM: Jerry McGinty, Director, Legislative Budget Board
IN RE: HB2547 by Oliverson (Relating to the modernization of regulation of commercial property and casualty insurance.), 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
HB2547 by Oliverson (Relating to the modernization of regulation of commercial property and casualty insurance.), As Introduced
HB2547 by Oliverson (Relating to the modernization of regulation of commercial property and casualty insurance.), As Introduced
No significant fiscal implication to the State is anticipated.
No significant fiscal implication to the State is anticipated.
It is assumed that the costs associated with the bill's provisions relating to the State Office of Risk Management could be absorbed using existing resources. The Texas Department of Insurance does not anticipate a significant fiscal impact related to the bill's implementation. Based on the Comptroller of Public Accounts analysis, premium tax revenue would increase however, the fiscal impact on the state cannot be determined.
Local Government Impact
No significant fiscal implication to units of local government is anticipated.
Source Agencies: b > td > 304 Comptroller of Public Accounts, 454 Department of Insurance, 479 State Office of Risk Management
304 Comptroller of Public Accounts, 454 Department of Insurance, 479 State Office of Risk Management
LBB Staff: b > td > JMc, AAL, LCO, SMAT
JMc, AAL, LCO, SMAT