Honorable Larry Phillips, Chair, House Committee on Insurance
FROM:
Ursula Parks, Director, Legislative Budget Board
IN RE:
HB2147 by Davis, Yvonne (Relating to the use of certain loss and expense experience in insurance rates.), As Introduced
No significant fiscal implication to the State is anticipated.
The bill would amend the Insurance Code relating to the use of certain loss and expense experience in insurance rates. Based on information provided by the Texas Department of Insurance, this analysis assumes the duties and responsibilities associated with implementing the provisions of the bill could be accomplished by utilizing existing resources.
The bill would take effect on September 1, 2017; however, the provisions of the bill would only apply to a premium rate used or a rate filing made on or after January 1, 2018.
Local Government Impact
No fiscal implication to units of local government is anticipated.