TO: | Honorable John T. Smithee, Chair, House Committee on Insurance |
FROM: | John S. O'Brien, Deputy Director, Legislative Budget Board |
IN RE: | HB2437 by Haggerty ( relating to rate regulation of certain insurers writing personal automobile insurance.), Committee Report 1st House, Substituted |
The bill would amend the Insurance Code relating to nonstandard personal automobile insurers. 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.
Source Agencies: | 454 Department of Insurance
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LBB Staff: | JOB, JRO, NV
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