Honorable Eddie Lucio III, Chair, House Committee on Insurance
FROM:
John McGeady, Assistant Director Sarah Keyton, Assistant Director Legislative Budget Board
IN RE:
HB3737 by Lucio III (Relating to the administration of the financial responsibility verification program.), As Introduced
No significant fiscal implication to the State is anticipated.
It is assumed that the provisions of the bill relating to the administration of the financial responsibility verification program could be absorbed using existing resources.
Dependent upon passage of the bill, this analysis assumes the appropriation of $10.1 million for the 2020-21 biennium from the TexasSure Fund No. 161 would transfer from the Texas Department of Insurance to the Department of Public Safety for the TexasSure Motor Vehicle Financial Responsibility Verification system contract.
The bill would take effect immediately with a two-thirds vote. If not, the bill would take effect September 1, 2019.
Local Government Impact
No fiscal implication to units of local government is anticipated.
Source Agencies:
304 Comptroller of Public Accounts, 405 Department of Public Safety, 454 Department of Insurance