| TO: | Honorable John T. Smithee, Chair, House Committee on Insurance |
| FROM: | Ursula Parks, Director, Legislative Budget Board |
| IN RE: | HB2163 by Eiland (Relating to an annual assessment on insurers for the examination of insurers; imposing an assessment.), As Introduced |
The bill would amend the Insurance Code relating to an annual assessment on insurers for the examination of insurers; imposing an assessment. The bill would impose an assessment on insurers not organized under the laws of this state who are subject to an examination described in this section, in an amount sufficient to cover the Texas Department of Insurance (TDI) expenses related to the examinations.
Based on information provided by TDI, it is assumed that any costs associated with the implementation of this bill would be absorbed within existing staff and resources. Also, this analysis assumes that since General Revenue-Dedicated Texas Department of Insurance Fund 36 is a self-leveling account, any additional revenue resulting from the implementation of the bill would accumulate in account fund balances and that the department would adjust the assessment of the maintenance tax or other fees accordingly in the following year.
Based on information provided by the Comptroller of Public Accounts, the bill would have no fiscal impact to the state.
| Source Agencies: | 304 Comptroller of Public Accounts, 454 Department of Insurance
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| LBB Staff: | UP, AG, ER
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