Honorable Kelly Hancock, Chair, Senate Committee on Business & Commerce
FROM:
Jerry McGinty, Director, Legislative Budget Board
IN RE:
HB2920 by Lozano (Relating to a grace period for payment of premiums on insurance policies renewed by the Texas Windstorm Insurance Association.), As Engrossed
No significant fiscal implication to the State is anticipated.
The bill would amend the Insurance Code relating to a grace period for payment of premiums on insurance policies renewed by the Texas Windstorm Insurance Association. 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.
Local Government Impact
No fiscal implication to units of local government is anticipated.