LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 77th Regular Session April 2, 2001 TO: Honorable John T. Smithee, Chair, House Committee on Insurance FROM: John Keel, Director, Legislative Budget Board IN RE: SB466 by Madla (Relating to a specialty insurance agent license for persons who sell certain telecommunications equipment.), As Engrossed ************************************************************************** * No significant fiscal implication to the State is anticipated. * ************************************************************************** The bill makes the following revisions to Article 21.09 of the Insurance Code: amends Section 1(a), adds Section 7 and repeals Section 6. The Texas Department of Insurance estimates there would be a minimal revenue increase to the General Revenue Fund- Dedicated- Texas Department of Insurance Operating Fund Account No. 036. The bill adds a new specialty insurance agent license that authorizes a telecommunication equipment vendor to sell insurance to a customer that covers the loss, malfunction or damage of the purchased telecommunication equipment. The bill would take effect on September 1, 2001. Local Government Impact No fiscal implication to units of local government is anticipated. Source Agencies: 475 Office of Public Utility Counsel, 473 Public Utility Commission of Texas, 454 Texas Department of Insurance LBB Staff: JK, SD, JO, DE