Honorable John Frullo, Chair, House Committee on Insurance
FROM:
Ursula Parks, Director, Legislative Budget Board
IN RE:
HB2424 by Thompson, Senfronia (Relating to fees paid to the Automobile Burglary and Theft Prevention Authority.), As Introduced
No significant fiscal implication to the State is anticipated.
The bill would amend Article 4413(37), Revised Statutes, relating to fees paid to the Automobile Burglary and Theft Prevention Authority. The bill would amend Section 6A, stipulating that a request by an insurer for a refund made under this section is valid regardless of the date the request was made or payment was made for which the refund is requested. The bill would amend Sections 10(a) and (b), to specify that an insurer, as defined in this section, is one who writes any form of motor vehicle liability insurance that complies with Subchapter D, Chapter 601, Transportation Code, and to specify that "motor vehicle years of insurance" means the number of years or portions of years a motor vehicle is covered by liability insurance.
Based on the information provided by the Texas Department of Insurance and the Comptroller's Office, it is assumed the provisions of the bill would not result in a significant impact to revenue collected under the amended sections. Because the timing and amount of any requests for refund that would be authorized under the provisions of the bill are unknown, the impact of changes to provisions governing a request for a refund by an insurer cannot be estimated.
Local Government Impact
No fiscal implication to units of local government is anticipated.
Source Agencies:
304 Comptroller of Public Accounts, 454 Department of Insurance, 608 Department of Motor Vehicles