Honorable John Carona, Chair, Senate Committee On Business & Commerce
FROM:
Ursula Parks, Director, Legislative Budget Board
IN RE:
SB733 by Carona (Relating to the Texas Automobile Insurance Plan Association.), As Introduced
No significant fiscal implication to the State is anticipated.
The bill would amend the Insurance Code relating to the Texas Automobile Insurance Plan Association (TAIPA). The bill would allow TAIPA to meet by telephone conference call, videoconference, or other similar telecommunication method for any meeting purpose. The bill would also no longer require TAIPA to annually file rates for insurance provided through the association, but would still require approval of filed rates by the insurance commissioner. Based on information provided by the Texas Department of Insurance (TDI), it is assumed that any costs associated with the implementation of this bill could be absorbed within existing staff and resources.
Local Government Impact
No fiscal implication to units of local government is anticipated.