LEGISLATIVE BUDGET BOARD

Austin, Texas

FISCAL NOTE, 89TH LEGISLATIVE REGULAR SESSION

April 29, 2025

TO:	Honorable Angie Chen Button, Chair, House Committee on Trade, Workforce & Economic Development
FROM:	Jerry McGinty, Director, Legislative Budget Board
IN RE:	HB5317 by Bell, Cecil (Relating to the establishment of a risk management pool to provide insurance coverage.), As Introduced

No significant fiscal implication to the State is anticipated.

The bill would authorize the State Office of Risk Management's (SORM) board to create a risk management pool administered by SORM for the purpose of providing insurance to state agencies and institutions of higher education. Agencies could purchase coverage from the pool and use appropriated funds to pay costs associated with participation in the pool. 

SORM indicates that costs to implement the bill's provisions could be absorbed within existing resources. 

Local Government Impact

No fiscal implication to units of local government is anticipated.

Source Agencies:

454 Department of Insurance, 479 State Office of Risk Management

LBB Staff:

JMc, RStu, LCO, CSmi