TO: | Honorable John T. Smithee, Chair, House Committee on Insurance |
FROM: | John Keel, Director, Legislative Budget Board |
IN RE: | HB117 by Burnam (Relating to a rate rollback for homeowners and residential fire and allied lines insurance.), As Introduced |
According to the Comptroller of Public Accounts, the proposed rate rollback may exert some downward pressure on individual premiums and insurance premium tax collections. However, the Comptroller of Public Accounts assumes that the rate rollback would promote insurance availability and reduce incentives for taking higher deductibles which would offset potential reductions in premiums and insurance premiums tax collections.
Source Agencies: | 304 Comptroller Of Public Accounts, 454 Department Of Insurance
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LBB Staff: | JK, JRO, RT, DLBe
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