TO: | Honorable Robert Duncan, Chair, Senate Committee on State Affairs |
FROM: | John S. O'Brien, Director, Legislative Budget Board |
IN RE: | SB1680 by Averitt (Relating to eligibility of certain dependents for group life insurance.), Committee Report 1st House, Substituted |
The bill would amend the Insurance Code relating to the extension of group life insurance to eligible children.
Based on the analysis the Texas Department of Insurance (TDI), it is assumed that there would be a one-time revenue gain of $6,500 in the General Revenue–Dedicated Account Fund 36 in fiscal year 2008 because the bill would result in 65 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 September 1, 2007.
Source Agencies: | 454 Department of Insurance
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LBB Staff: | JOB, KJG, MW, SK
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