Honorable Larry Phillips, Chair, House Committee on Insurance
FROM:
Ursula Parks, Director, Legislative Budget Board
IN RE:
HB4030 by Phillips (Relating to the life insurance policy proceeds of an insured defendant indicted for certain offenses under the Penal Code.), As Introduced
No significant fiscal implication to the State is anticipated.
The bill would amend the Code of Criminal Procedure and the Insurance Code to require a court to determine whether certain felony defendants are covered by a life insurance policy and, if so, the court would be required to notify the insurer and the victim of the offense of the coverage and the criminal proceedings. If the defendant were to die before disposition of the charges, the bill would require the court to appoint a trustee to manage the insurance proceeds in a specific manner. Based on the analysis of the Office of Court Administration and the Department of Insurance, duties and responsibilities associated with implementing the provisions of the bill could be accomplished using existing resources.
Local Government Impact
No significant fiscal implication to units of local government is anticipated.
Source Agencies:
212 Office of Court Administration, Texas Judicial Council, 454 Department of Insurance