Honorable John T. Smithee, Chair, House Committee on Insurance
FROM:
John S. O'Brien, Director, Legislative Budget Board
IN RE:
HB2641 by Kent (Relating to credit toward the deductible of certain automobile and homeowners insurance policies.), As Introduced
No significant fiscal implication to the State is anticipated.
The bill would amend the Insurance Code to regarding credit toward the deductible of certain automobile and homeowners insurance policies. The bill would result in the Texas Department of Insurance (TDI) reviewing rate filings for compliance, and creating a bulletin to insurers regarding the changes in law. Based on analysis provided by TDI, any costs associated with the implementation of this bill could be absorbed within existing agency resources.
Local Government Impact
No fiscal implication to units of local government is anticipated.