LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 88TH LEGISLATIVE REGULAR SESSION April 10, 2023 TO: Honorable Tom Oliverson, Chair, House Committee on Insurance FROM: Jerry McGinty, Director, Legislative Budget Board IN RE: HB287 by Johnson, Julie (Relating to payment of the replacement cost of damaged property under a homeowner's, renter's, or condominium owner's insurance policy.), As Introduced No significant fiscal implication to the State is anticipated. The bill would amend the Insurance Code relating to payment of the replacement cost of damaged property under a residential property insurance policy. Based on information provided by the 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, AAL, LBl
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 88TH LEGISLATIVE REGULAR SESSION
April 10, 2023
TO: Honorable Tom Oliverson, Chair, House Committee on Insurance FROM: Jerry McGinty, Director, Legislative Budget Board IN RE: HB287 by Johnson, Julie (Relating to payment of the replacement cost of damaged property under a homeowner's, renter's, or condominium owner's insurance policy.), As Introduced
TO: Honorable Tom Oliverson, Chair, House Committee on Insurance
FROM: Jerry McGinty, Director, Legislative Budget Board
IN RE: HB287 by Johnson, Julie (Relating to payment of the replacement cost of damaged property under a homeowner's, renter's, or condominium owner's insurance policy.), 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
HB287 by Johnson, Julie (Relating to payment of the replacement cost of damaged property under a homeowner's, renter's, or condominium owner's insurance policy.), As Introduced
HB287 by Johnson, Julie (Relating to payment of the replacement cost of damaged property under a homeowner's, renter's, or condominium owner's insurance policy.), 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 payment of the replacement cost of damaged property under a residential property insurance policy. Based on information provided by the 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, AAL, LBl
JMc, AAL, LBl