Honorable Larry Phillips, Chair, House Committee on Insurance
FROM:
Ursula Parks, Director, Legislative Budget Board
IN RE:
SB1449 by Taylor, Larry (Relating to an insurer's compliance with National Association of Insurance Commissioners requirements.), Committee Report 2nd House, Substituted
No significant fiscal implication to the State is anticipated.
The bill would amend the Insurance Code relating to an insurer's compliance with National Association of Insurance Commissioners 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 immediately upon receiving a vote of two-thirds of all members elected to the House and Senate or otherwise on September 1, 2017.
Local Government Impact
No fiscal implication to units of local government is anticipated.