LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE 74th Regular Session March 21, 1995 TO: Honorable John Smithee, Chair IN RE: House Bill No. 2593 Committee on Insurance By: Eiland House of Representatives Austin, Texas FROM: John Keel, Director In response to your request for a Fiscal Note on House Bill No. 2593 (relating to noncommercial windstorm and hail insurance) this office has determined the following: The bill would amend the Insurance Code to remove the change in the basis of non-commercial windstorm and hail insurance rates that was scheduled to occur December 31, 1995. Rates would remain at 90 percent of the modified extended coverage rates under the provisions of the bill rather than changing to 90 percent of the manual rate for monoline extended coverage promulgated by the Commissioner. Because rates would remain as they are currently, no fiscal implications to the state or units of local government are anticipated from implementation of the provisions of the bill. Source: Department of Insurance LBB Staff: JK, RM, RR