Honorable John T. Smithee, Chair, House Committee on Insurance
FROM:
John S O'Brien, Director, Legislative Budget Board
IN RE:
HB3410 by Smithee (Relating to the underwriting authority of certain surplus lines insurance agents and to the collection of surplus lines insurance premium taxes in certain circumstances.), As Introduced
No significant fiscal implication to the State is anticipated.
The bill would amend the Insurance Code relating to the underwriting authority of certain surplus lines insurance agents and to the collection of surplus lines insurance premium taxes in certain circumstances. 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.