TO: | Honorable John T. Smithee, Chair, House Committee on Insurance |
FROM: | John S. O'Brien, Director, Legislative Budget Board |
IN RE: | HB1847 by Hancock (Relating to certain noninsurance benefits and related services for accident, health, life and long-term care insurance. ), Committee Report 1st House, Substituted |
The bill would amend the Insurance Code relating to certain noninsurance benefits and related services for accident, health, life, and long-term care insurance.
Based on the analysis of the Texas Department of Insurance (TDI), it is assumed that there would be a one-time revenue gain of $37,500 in the General Revenue Dedicated Account Fund 36 in fiscal year 2008 because the bill would result in 375 filings, each accompanied by a $100 filing fee. Since General Revenue Dedicated Account Fund 36 is a self-leveling account, this analysis assumes all revenue generated would go toward fund balances or the maintenance tax would be set to recover a lower level of revenue the following year. It is also assumed that any costs realized by TDI from implementing the provisions of the bill could be absorbed within existing resources.
The bill would take effect immediately upon a two-thirds vote in each house, otherwise the bill would take effect September 1, 2007.
Source Agencies: | 454 Department of Insurance
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LBB Staff: | JOB, JRO, MW, SK
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