Honorable Larry Phillips, Chair, House Committee on Insurance
FROM:
Ursula Parks, Director, Legislative Budget Board
IN RE:
HB4105 by Muñoz, Jr. (Relating to certain information reported to the Texas Department of Insurance by insurers, other entities, and individuals in connection with employee benefit plans; creating an offense.), As Introduced
No significant fiscal implication to the State is anticipated.
The bill would amend the Insurance Code relating to certain information reported to the Texas Department of Insurance by insurers, other entities, and individuals in connection with employee benefit plans; creating an offense. Based on information provided by the Texas Department of Insurance, Employees Retirement System, Teacher Retirement System, Texas A&M University System Administration, and The University of Texas System Administration, it is assumed that the duties and responsibilities associated with implementing the provisions of the bill could be accomplished by utilizing existing resources.
Local Government Impact
A Class C misdemeanor is punishable by a fine of not more than $500. Costs associated with enforcement and prosecution could likely be absorbed within existing resources. Revenue gain from fines imposed and collected is not anticipated to have a significant fiscal impact. In addition to the fine, punishment can include up to 180 days of deferred disposition.
Source Agencies:
323 Teacher Retirement System, 327 Employees Retirement System, 454 Department of Insurance, 710 Texas A&M University System Administrative and General Offices, 720 The University of Texas System Administration