Focus Report, Volume 75, Number 10, July 1997 Page: 19
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Excluding certain expenses from title insurance rate base calculations
HB 2887 by Dutton (Whitmire)DIGEST:
GOVERNOR'S
REASON
FOR VETO:
RESPONSE:
NOTES:HB 2887 would have prohibitedthe insurance commissioner from including
expenses for promotional and educational activities in setting title insurance
rates. The bill also would have specified that promotional and educational
activities not conditioned on the referral of business would not constitute
prohibited rebates or discounts.
"The Commissioner of Insurance should have the discretion to consider all
relevant incurred expenses in setting rates for title insurance companies.
House Bill 2887 prohibits the Commissioner of Insurance from considering
expenses relating to promotional and educational activities that may be
relevant in setting fair rates for title insurance companies.
Rep. Harold Dutton, the author of HB 2887, said: "I'm still not sure what the
governor's logic was in vetoing the bill. What we wanted to do is if a title
company wanted to spend all this money on these activities like education,
socializing, entertainment, etc., it would not be allowed to be counted as part
of the rate base. The veto keeps these costs part of the rate base. I never
wanted to prohibit title companies from spending this money or doing these
activities. I just wanted to exclude the cost from the rates passed on to the
consumer.
HB 2887 was analyzed in the May 15 Daily Floor Report
House Research Organization19
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Texas. Legislature. House of Representatives. Research Organization. Focus Report, Volume 75, Number 10, July 1997, periodical, July 1, 1997; Austin, Texas. (https://texashistory.unt.edu/ark:/67531/metapth654448/m1/19/?q=%22~1~1%22~1: accessed July 16, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu.; crediting UNT Libraries Government Documents Department.