Honorable Robert Duncan, Chair, Senate Committee on State Affairs
FROM:
John S O'Brien, Director, Legislative Budget Board
IN RE:
HB3161 by Hancock (Relating to limited purpose subsidiary life insurance companies.), Committee Report 2nd House, Substituted
No significant fiscal implication to the State is anticipated.
The bill would amend the Insurance Code relating to limited purpose subsidiary life insurance companies. Based on the analysis provided by the Texas Department of Insurance, it is assumed that all duties and responsibilities associated with implementing the provisions of the bill could be accomplished by utilizing existing agency resources.
Local Government Impact
No fiscal implication to units of local government is anticipated.
Source Agencies:
454 Department of Insurance, 304 Comptroller of Public Accounts