LEGISLATIVE BUDGET BOARD

Austin, Texas

FISCAL NOTE, 79TH LEGISLATIVE REGULAR SESSION

April 9, 2005

TO:	Honorable John T. Smithee, Chair, House Committee on Insurance
FROM:	John S. O'Brien, Deputy Director, Legislative Budget Board
IN RE:	HB693 by Leibowitz (Relating to required disclosure of certain information regarding liability insurance coverage.), As Introduced

No significant fiscal implication to the State is anticipated.

This bill would amend the Insurance Code relating to required disclosure of certain information regarding liability insurance coverage.  The Department of Insurance anticipates any additional work resulting from the passage of the bill could be reasonably absorbed within current resources.

The bill would take effect immediately upon receiving a two-thirds majority vote in each house.  If the bill does not receive a two-thirds vote in each house, the bill would take effect September 1, 2005.

Local Government Impact

No fiscal implication to units of local government is anticipated.

Source Agencies:

454 Department of Insurance

LBB Staff:

JOB, JRO, MW, NV