Honorable Charles Schwertner, Chair, Senate Committee on Business & Commerce
FROM:
Jerry McGinty, Director, Legislative Budget Board
IN RE:
SB2571 by Middleton (Relating to funding of excess losses and operating expenses of the Texas Windstorm Insurance Association; authorizing an assessment.), As Introduced
No significant fiscal implication to the State is anticipated.
It is assumed that certain costs related to rulemaking could be absorbed using existing resources at the Texas Department of Insurance. Funding related to the Texas Windstorm Insurance Association and the Catastrophe Reserve Trust Fund are outside the treasury; therefore, implementing other of the bill's provisions related to both would not have a fiscal impact to the State.
Local Government Impact
No fiscal implication to units of local government is anticipated.
Source Agencies:
304 Comptroller of Public Accounts, 347 Public Finance Authority, 454 Department of Insurance