LEGISLATIVE BUDGET BOARD
Austin, Texas
 
FISCAL NOTE, 86TH LEGISLATIVE REGULAR SESSION
 
April 9, 2019

TO:
Honorable Eddie Lucio III, Chair, House Committee on Insurance
 
FROM:
John McGeady, Assistant Director     Sarah Keyton, Assistant Director
Legislative Budget Board
 
IN RE:
HB1411 by Lucio III (relating to the cancellation and nonrenewal of certain liability and commercial property insurance policies.), Committee Report 1st House, Substituted

No significant fiscal implication to the State is anticipated.

The bill would amend the Insurance Code relating to the cancellation and nonrenewal of certain liability and commercial property insurance policies. Based on information provided by the Texas Department of Insurance, this analysis assumes that the duties and responsibilities associated with implementing the provisions of the bill could be accomplished by utilizing existing resources.
 
The bill applies only to an insurance policy delivered, issued for delivery, or renewed on or after January 1, 2020. The bill would take effect on September 1, 2019.

Local Government Impact

No fiscal implication to units of local government is anticipated.


Source Agencies:
454 Department of Insurance
LBB Staff:
WP, CMa, CP, CLo, SGr