TO:	Honorable Larry Phillips, Chair, House Committee on Insurance
FROM:	Ursula Parks, Director, Legislative Budget Board
IN RE:	SB1070 by Hancock (Relating to authorized reinsurance and financial statement credit and accounting for reinsurance.), Committee Report 2nd House, Substituted

The bill would amend the Insurance Code relating to authorized reinsurance and financial statement credit and accounting for reinsurance. Based on information provided by the Texas Department of Insurance, this analysis assumes 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.