TO: | Honorable Troy Fraser, Chair, Senate Committee on Business & Commerce |
FROM: | John Keel, Director, Legislative Budget Board |
IN RE: | SB581 by Jackson (relating to an optional discount in homeowners' insurance premiums for the use of an insulating concrete form system. ), Committee Report 1st House, Substituted |
The Department of Insurance indicates that any costs associated with the bill could be absorbed within current resources.
The Comptroller indicates the optional discounts could result in a decrease to the insurance premiums tax. The amount of decrease would depend upon the rate discount that might be allowed and the number of discounts granted.
Source Agencies: | 304 Comptroller of Public Accounts, 454 Department of Insurance
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LBB Staff: | JK, JRO, RT, RB, DLBe
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