Honorable John T. Smithee, Chair, House Committee on Insurance
FROM:
Ursula Parks, Director, Legislative Budget Board
IN RE:
HB1742 by Johnson (Relating to the release by a lender of insurance proceeds for damage to residential real property.), As Introduced
No significant fiscal implication to the State is anticipated.
The bill would amend the Insurance Code relating to the release by a lender of insurance proceeds for damage to residential real property. The bill would take effect September 1, 2013. Based on information provided by the Texas Department of Insurance, it is assumed that any costs associated with the implementation of this bill would be absorbed within existing staff and resources.
Local Government Impact
No fiscal implication to units of local government is anticipated.