LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 87TH LEGISLATIVE REGULAR SESSION April 12, 2021 TO: Honorable Tom Oliverson, Chair, House Committee on Insurance FROM: Jerry McGinty, Director, Legislative Budget Board IN RE: HB429 by King, Ken (Relating to the coverage of damage from tornadoes and wildfires by the Texas Windstorm Insurance Association.), As Introduced No significant fiscal implication to the State is anticipated. The bill would amend the Insurance Code relating to the coverage of damage from tornadoes and wildfires by the Texas Windstorm Insurance Association (TWIA). Based on information provided by the Texas Department of Insurance (TDI), the bill may impact TDI if additional resources are required for the TDI ombudsman program with TWIA; however, this impact is not anticipated to be significant. Local Government ImpactNo 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
April 12, 2021
TO: Honorable Tom Oliverson, Chair, House Committee on Insurance FROM: Jerry McGinty, Director, Legislative Budget Board IN RE: HB429 by King, Ken (Relating to the coverage of damage from tornadoes and wildfires by the Texas Windstorm Insurance Association.), As Introduced
TO: Honorable Tom Oliverson, Chair, House Committee on Insurance
FROM: Jerry McGinty, Director, Legislative Budget Board
IN RE: HB429 by King, Ken (Relating to the coverage of damage from tornadoes and wildfires by the Texas Windstorm Insurance Association.), 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
HB429 by King, Ken (Relating to the coverage of damage from tornadoes and wildfires by the Texas Windstorm Insurance Association.), As Introduced
HB429 by King, Ken (Relating to the coverage of damage from tornadoes and wildfires by the Texas Windstorm Insurance Association.), 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 coverage of damage from tornadoes and wildfires by the Texas Windstorm Insurance Association (TWIA). Based on information provided by the Texas Department of Insurance (TDI), the bill may impact TDI if additional resources are required for the TDI ombudsman program with TWIA; however, this impact is not anticipated to be significant.
Local Government Impact
No 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