LEGISLATIVE BUDGET BOARD

Austin, Texas

FISCAL NOTE, 79TH LEGISLATIVE REGULAR SESSION

April 29, 2005

TO:	Honorable John T. Smithee, Chair, House Committee on Insurance
FROM:	John S. O'Brien, Deputy Director, Legislative Budget Board
IN RE:	HB3039 by Olivo (Relating to certain life insurance policies insuring the life of an employee.), As Introduced

No significant fiscal implication to the State is anticipated.

The bill would amend the Insurance Code relating to certain life insurance policies insuring the life of an employee.  Based on the analysis of the Department of Insurance, duties and responsibilities associated with implementing the provisions of the bill could be accomplished by utilizing existing resources.

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, NV