LEGISLATIVE BUDGET BOARD

Austin, Texas

FISCAL NOTE, 83RD LEGISLATIVE REGULAR SESSION

April 8, 2013

TO:	Honorable John T. Smithee, Chair, House Committee on Insurance
FROM:	Ursula Parks, Director, Legislative Budget Board
IN RE:	HB2646 by Turner, Chris (Relating to the office of public insurance counsel's ability to initiate a hearing on insurance rates or rate filings.), As Introduced

No significant fiscal implication to the State is anticipated.

The bill would amend the Insurance Code relating to the Office of Public Insurance Counsel's (OPIC) ability to initiate a hearing on insurance rates or rate filings. The bill would allow OPIC to initiate hearings on rate filings or a rate in effect through a written petition to the insurance commissioner and require those hearings to be held within 30 days after the petition is filed.

Based on information provided by the Texas Department of Insurance and OPIC, it is assumed that there would be an additional two hearings per year which would require additional actuarial services; however, 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.

Source Agencies:

359 Office of Public Insurance Counsel, 454 Department of Insurance

LBB Staff:

UP, AG, ER, LXH