Honorable John Frullo, Chair, House Committee on Insurance
FROM:
Ursula Parks, Director, Legislative Budget Board
IN RE:
HB3980 by Frullo (Relating to requiring a coverage summary or other informational material to accompany certain insurance policies; adding a provision that may be subject to a criminal penalty.), Committee Report 1st House, Substituted
No significant fiscal implication to the State is anticipated.
The bill would amend the Insurance Code relating to requiring a coverage summary or other informational material to accompany certain insurance policies; adding a provision that may be subject to a criminal penalty.
Based on information provided by the Texas Department of Insurance, it is assumed that all duties and responsibilities necessary to implement the provisions of the bill could be accomplished utilizing existing staff and resources.
The bill takes effect September 1, 2016.
Local Government Impact
No fiscal implication to units of local government is anticipated.