LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 89TH LEGISLATIVE REGULAR SESSION April 7, 2025 TO: Honorable Charles Schwertner, Chair, Senate Committee on Business & Commerce FROM: Jerry McGinty, Director, Legislative Budget Board IN RE: SB2571 by Middleton (Relating to funding of excess losses and operating expenses of the Texas Windstorm Insurance Association; authorizing an assessment.), As Introduced No significant fiscal implication to the State is anticipated. It is assumed that certain costs related to rulemaking could be absorbed using existing resources at the Texas Department of Insurance. Funding related to the Texas Windstorm Insurance Association and the Catastrophe Reserve Trust Fund are outside the treasury; therefore, implementing other of the bill's provisions related to both would not have a fiscal impact to the State. Local Government ImpactNo fiscal implication to units of local government is anticipated. Source Agencies: b > td > 304 Comptroller of Public Accounts, 347 Public Finance Authority, 454 Department of Insurance LBB Staff: b > td > JMc, RStu, GDZ, BFa, CMA
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 89TH LEGISLATIVE REGULAR SESSION
April 7, 2025
TO: Honorable Charles Schwertner, Chair, Senate Committee on Business & Commerce FROM: Jerry McGinty, Director, Legislative Budget Board IN RE: SB2571 by Middleton (Relating to funding of excess losses and operating expenses of the Texas Windstorm Insurance Association; authorizing an assessment.), As Introduced
TO: Honorable Charles Schwertner, Chair, Senate Committee on Business & Commerce
FROM: Jerry McGinty, Director, Legislative Budget Board
IN RE: SB2571 by Middleton (Relating to funding of excess losses and operating expenses of the Texas Windstorm Insurance Association; authorizing an assessment.), As Introduced
Honorable Charles Schwertner, Chair, Senate Committee on Business & Commerce
Honorable Charles Schwertner, Chair, Senate Committee on Business & Commerce
Jerry McGinty, Director, Legislative Budget Board
Jerry McGinty, Director, Legislative Budget Board
SB2571 by Middleton (Relating to funding of excess losses and operating expenses of the Texas Windstorm Insurance Association; authorizing an assessment.), As Introduced
SB2571 by Middleton (Relating to funding of excess losses and operating expenses of the Texas Windstorm Insurance Association; authorizing an assessment.), As Introduced
No significant fiscal implication to the State is anticipated.
No significant fiscal implication to the State is anticipated.
It is assumed that certain costs related to rulemaking could be absorbed using existing resources at the Texas Department of Insurance. Funding related to the Texas Windstorm Insurance Association and the Catastrophe Reserve Trust Fund are outside the treasury; therefore, implementing other of the bill's provisions related to both would not have a fiscal impact to the State.
Local Government Impact
No fiscal implication to units of local government is anticipated.
Source Agencies: b > td > 304 Comptroller of Public Accounts, 347 Public Finance Authority, 454 Department of Insurance
304 Comptroller of Public Accounts, 347 Public Finance Authority, 454 Department of Insurance
LBB Staff: b > td > JMc, RStu, GDZ, BFa, CMA
JMc, RStu, GDZ, BFa, CMA