Honorable Troy Fraser, Chair, Senate Committee on Business & Commerce
FROM:
John S. O'Brien, Director, Legislative Budget Board
IN RE:
HB4358 by Smithee (Relating to rulemaking authority for administrative penalties assessed for violations of the Insurance Code.), As Engrossed
No significant fiscal implication to the State is anticipated.
The bill would amend the Insurance Code to allow the Texas Department of Insurance to adopt rules related to the amounts of administrative penalties. The agency indicates that any costs associated with the bill could be absorbed within current resources.
Local Government Impact
No fiscal implication to units of local government is anticipated.