LEGISLATIVE BUDGET BOARD

Austin, Texas

FISCAL NOTE, 83RD LEGISLATIVE REGULAR SESSION

April 12, 2013

TO:	Honorable Robert Duncan, Chair, Senate Committee on State Affairs
FROM:	Ursula Parks, Director, Legislative Budget Board
IN RE:	SB1386 by Hancock (Relating to the nonforfeiture requirements of certain life insurance policies.), As Introduced

No significant fiscal implication to the State is anticipated.

The bill would amend the Insurance Code relating to the nonforfeiture requirements of certain life insurance policies.  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.

Source Agencies:

454 Department of Insurance

LBB Staff:

UP, AG, ER