LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 87TH LEGISLATIVE REGULAR SESSION April 1, 2021 TO: Honorable Kelly Hancock, Chair, Senate Committee on Business & Commerce FROM: Jerry McGinty, Director, Legislative Budget Board IN RE: SB1367 by Creighton (relating to the regulation of commercial property and casualty insurance and insurance for certain large risks.), Committee Report 1st House, Substituted 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. Local Government ImpactNo significant fiscal implication to units of local government is anticipated. Source Agencies: b > td > 454 Department of Insurance, 479 State Office of Risk Management LBB Staff: b > td > JMc, SZ, LCO, SMAT
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 87TH LEGISLATIVE REGULAR SESSION
April 1, 2021
TO: Honorable Kelly Hancock, Chair, Senate Committee on Business & Commerce FROM: Jerry McGinty, Director, Legislative Budget Board IN RE: SB1367 by Creighton (relating to the regulation of commercial property and casualty insurance and insurance for certain large risks.), Committee Report 1st House, Substituted
TO: Honorable Kelly Hancock, Chair, Senate Committee on Business & Commerce
FROM: Jerry McGinty, Director, Legislative Budget Board
IN RE: SB1367 by Creighton (relating to the regulation of commercial property and casualty insurance and insurance for certain large risks.), Committee Report 1st 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
SB1367 by Creighton (relating to the regulation of commercial property and casualty insurance and insurance for certain large risks.), Committee Report 1st House, Substituted
SB1367 by Creighton (relating to the regulation of commercial property and casualty insurance and insurance for certain large risks.), Committee Report 1st House, Substituted
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.
Local Government Impact
No significant fiscal implication to units of local government is anticipated.
Source Agencies: b > td > 454 Department of Insurance, 479 State Office of Risk Management
454 Department of Insurance, 479 State Office of Risk Management
LBB Staff: b > td > JMc, SZ, LCO, SMAT
JMc, SZ, LCO, SMAT