LEGISLATIVE BUDGET BOARD

Austin, Texas

FISCAL NOTE, 88TH LEGISLATIVE REGULAR SESSION

May 2, 2023

TO:	Honorable Charles Schwertner, Chair, Senate Committee on Business & Commerce
FROM:	Jerry McGinty, Director, Legislative Budget Board
IN RE:	HB1587 by Oliverson (Relating to the use by insurance companies of separate accounts in connection with life insurance and annuities and certain other benefits.), As Engrossed

No significant fiscal implication to the State is anticipated.

Based on the analysis of the Department of Insurance, 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, SZ, AAL, LBl