Honorable René Oliveira, Chair, House Committee on Business & Industry
FROM:
Ursula Parks, Director, Legislative Budget Board
IN RE:
HB2054 by Oliveira (Relating to a cost-of-living increase applicable to death benefits paid under the workers' compensation system.), As Introduced
No significant fiscal implication to the State is anticipated.
The bill would amend the Labor Code relating to a cost-of-living increase applicable to death benefits paid under the workers' compensation system.
Based on information provided by the State Office of Risk Management, this analysis assumes the agency could absorb any additional work associated with implementing the provisions of the bill using existing resources. The Department of Insurance, the Texas A&M University System, and the University of Texas System assume any additional work associated with implementing the provisions of the bill could be absorbed using existing resources.
Implementation costs to all affected agencies are anticipated to increase in future years after fiscal year 2022 due to the growth of the number of eligible claimants and the compounding of previously applied cost of living adjustments. However, information is not available to estimate those potential costs at this time.
The bill would take effect September 1, 2017.
Local Government Impact
Based on information provided by the Texas Association of Counties (TAC), the Texas Association of School Boards (TASB), and the Texas Municipal League Intergovernmental Risk Pool (TMLIRP), this analysis assumes the bill would have no significant fiscal impact to local entities. However, costs are anticipated to increase in future years after fiscal year 2022 due to the growth of the number of eligible claimants and compounding of previously applied cost of living adjustments. However, information is not available to estimate those potential costs at this time.
Source Agencies:
454 Department of Insurance, 479 State Office of Risk Management, 601 Department of Transportation, 710 Texas A&M University System Administrative and General Offices, 720 The University of Texas System Administration