Honorable Eddie Lucio III, Chair, House Committee on Insurance
FROM:
John McGeady, Assistant Director Sarah Keyton, Assistant Director Legislative Budget Board
IN RE:
HB1940 by Lucio III (Relating to eligibility of surplus lines insurers to provide windstorm and hail coverage.), As Introduced
No significant fiscal implication to the State is anticipated.
The bill would amend the Insurance Code relating to eligibility of surplus lines insurers to provide windstorm and hail coverage. 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 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, 2019.
Local Government Impact
No fiscal implication to units of local government is anticipated.