LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 87TH LEGISLATIVE REGULAR SESSION April 30, 2021 TO: Honorable Dan Patrick, Lieutenant Governor, Senate FROM: Jerry McGinty, Director, Legislative Budget Board IN RE: SB1448 by Taylor (Relating to the powers and duties of the windstorm insurance legislative oversight board and to certain studies by the board relating to the Texas Windstorm Insurance Association and the Fair Access to Insurance Requirements Plan.), As Passed 2nd House No significant fiscal implication to the State is anticipated. The bill would amend the Insurance Code relating to powers and duties of the windstorm insurance legislative oversight board, certain studies related to the Texas Windstorm Insurance Association and the Fair Access to Insurance Requirements Plan, and the authority of the Texas Windstorm Insurance Association to raise premium rates on association policies. 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 fiscal implication to units of local government is anticipated. Source Agencies: b > td > 454 Department of Insurance LBB Staff: b > td > JMc, LBO, SZ, MB, MPUK
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 87TH LEGISLATIVE REGULAR SESSION
April 30, 2021
TO: Honorable Dan Patrick, Lieutenant Governor, Senate FROM: Jerry McGinty, Director, Legislative Budget Board IN RE: SB1448 by Taylor (Relating to the powers and duties of the windstorm insurance legislative oversight board and to certain studies by the board relating to the Texas Windstorm Insurance Association and the Fair Access to Insurance Requirements Plan.), As Passed 2nd House
TO: Honorable Dan Patrick, Lieutenant Governor, Senate
FROM: Jerry McGinty, Director, Legislative Budget Board
IN RE: SB1448 by Taylor (Relating to the powers and duties of the windstorm insurance legislative oversight board and to certain studies by the board relating to the Texas Windstorm Insurance Association and the Fair Access to Insurance Requirements Plan.), As Passed 2nd House
Honorable Dan Patrick, Lieutenant Governor, Senate
Honorable Dan Patrick, Lieutenant Governor, Senate
Jerry McGinty, Director, Legislative Budget Board
Jerry McGinty, Director, Legislative Budget Board
SB1448 by Taylor (Relating to the powers and duties of the windstorm insurance legislative oversight board and to certain studies by the board relating to the Texas Windstorm Insurance Association and the Fair Access to Insurance Requirements Plan.), As Passed 2nd House
SB1448 by Taylor (Relating to the powers and duties of the windstorm insurance legislative oversight board and to certain studies by the board relating to the Texas Windstorm Insurance Association and the Fair Access to Insurance Requirements Plan.), As Passed 2nd House
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 powers and duties of the windstorm insurance legislative oversight board, certain studies related to the Texas Windstorm Insurance Association and the Fair Access to Insurance Requirements Plan, and the authority of the Texas Windstorm Insurance Association to raise premium rates on association policies. 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 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, LBO, SZ, MB, MPUK
JMc, LBO, SZ, MB, MPUK