LEGISLATIVE BUDGET BOARD
Austin, Texas
 
FISCAL NOTE, 88TH LEGISLATIVE REGULAR SESSION
 
April 27, 2023

TO:
Honorable Tom Oliverson, Chair, House Committee on Insurance
 
FROM:
Jerry McGinty, Director, Legislative Budget Board
 
IN RE:
HB287 by Johnson, Julie (relating to payment of the replacement cost of lost or damaged property under a homeowner's, renter's, or condominium owner's insurance policy.), Committee Report 1st House, Substituted

No significant fiscal implication to the State is anticipated.

The bill would amend the Insurance Code relating to payment of the replacement cost of damaged property under a residential property insurance policy. Based on information provided by the 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 significant fiscal implication to units of local government is anticipated.


Source Agencies:
454 Department of Insurance
LBB Staff:
JMc, AAL, LBl