LEGISLATIVE BUDGET BOARD

Austin, Texas

FISCAL NOTE, 81ST LEGISLATIVE REGULAR SESSION

April 9, 2009

TO:	Honorable Troy Fraser, Chair, Senate Committee on Business & Commerce
FROM:	John S. O'Brien, Director, Legislative Budget Board
IN RE:	SB685 by Lucio (Relating to authorizing the commissioner of insurance to further regulate the financial security and operations of certain insurance companies through local districts or chapters.), As Introduced

No significant fiscal implication to the State is anticipated.

The bill would amend the Insurance Code to increase regulation of the financial security and operations of certain insurance companies.  The bill would require the Department of Insurance (TDI) to adopt rules to provide a transition period for insurance companies to comply with the requirements of the bill.  Based on analysis provided by TDI, any costs associated with implementing the provisions of the bill could be absorbed within existing agency resources. 

Local Government Impact

No fiscal implication to units of local government is anticipated.

Source Agencies:

454 Department of Insurance

LBB Staff:

JOB, JRO, CH