Honorable Kelly Hancock, Chair, Senate Committee on Business & Commerce
FROM:
Ursula Parks, Director, Legislative Budget Board
IN RE:
SB878 by Hancock (Relating to named driver policy disclosure requirements.), Committee Report 1st House, Substituted
No significant fiscal implication to the State is anticipated.
The bill would amend the Insurance Code relating to named driver policy disclosure requirements. 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 an insurance policy that is delivered, issued for delivery, or renewed on or after January 1, 2018.
Local Government Impact
No fiscal implication to units of local government is anticipated.