LEGISLATIVE BUDGET BOARD

Austin, Texas

FISCAL NOTE, 83RD LEGISLATIVE REGULAR SESSION

May 25, 2013

TO:	Honorable David Dewhurst, Lieutenant Governor, Senate Honorable Joe Straus, Speaker of the House, House of Representatives
FROM:	Ursula Parks, Director, Legislative Budget Board
IN RE:	HB3106 by Morrison (Relating to compensatory payments and reinsurance agreements made in connection with the issuance of title insurance.), Conference Committee Report

No significant fiscal implication to the State is anticipated.

The bill would amend the Insurance Code relating to compensatory payments and reinsurance agreements made in connection with the issuance of certain title insurance policies. The bill would apply to a payment for title evidence furnished on or after September 1, 2013.

Based on information provided by the Texas Department of Insurance, it is assumed that any costs associated with the implementation of the bill would be absorbed within existing staff and resources.

Local Government Impact

No fiscal implication to units of local government is anticipated.

Source Agencies:

454 Department of Insurance

LBB Staff:

UP, RB, ER, AG, LXH