LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 87TH LEGISLATIVE REGULAR SESSION March 31, 2021 TO: Honorable Kelly Hancock, Chair, Senate Committee on Business & Commerce FROM: Jerry McGinty, Director, Legislative Budget Board IN RE: SB965 by Zaffirini (relating to rate filing requirements for certain personal lines insurers with low market shares.), Committee Report 1st House, Substituted No significant fiscal implication to the State is anticipated. The bill would repeal provisions of the Insurance Code relating to rate filing requirements for certain personal lines insurers. 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
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 87TH LEGISLATIVE REGULAR SESSION
March 31, 2021
TO: Honorable Kelly Hancock, Chair, Senate Committee on Business & Commerce FROM: Jerry McGinty, Director, Legislative Budget Board IN RE: SB965 by Zaffirini (relating to rate filing requirements for certain personal lines insurers with low market shares.), Committee Report 1st House, Substituted
TO: Honorable Kelly Hancock, Chair, Senate Committee on Business & Commerce
FROM: Jerry McGinty, Director, Legislative Budget Board
IN RE: SB965 by Zaffirini (relating to rate filing requirements for certain personal lines insurers with low market shares.), 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
SB965 by Zaffirini (relating to rate filing requirements for certain personal lines insurers with low market shares.), Committee Report 1st House, Substituted
SB965 by Zaffirini (relating to rate filing requirements for certain personal lines insurers with low market shares.), Committee Report 1st House, Substituted
No significant fiscal implication to the State is anticipated.
No significant fiscal implication to the State is anticipated.
The bill would repeal provisions of the Insurance Code relating to rate filing requirements for certain personal lines insurers. 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
JMc, SZ, MB, MPUK