|Date Requested:March 15, 2005
Time Requested:11:36 AM
| FUND(S) |
General Revenue and Special Revenue
Sources of Revenue
|General Fund,Special Fund|
Legislation creates:Neither Program nor Fund
Effect this measure will have on costs and revenues of state government.
This legislation creats the Office of Insurance Consumer Advocate in the Attorney General's Office. The purpose of this office will be to represent consumers in all judicial and administrative proceedings involving insurance. The office will also have the authority to initiate judicial and administrative proceedings when it is determine to be in the best interest of the insurance consuming public.
|Effect of Proposal||Fiscal Year|
|1. Estmated Total Cost||0||349,805||349,805|
|Repairs and Alterations||0||0||0|
|2. Estimated Total Revenues||0||349,805||349,805|
3. Explanation of above estimates (including long-range effect):
1 Insurance Advocate 125,000
2 Attorneys 140,000
1 Paralegal 40,000
1 Secretary 35,000
1 Investigator 42,000
Current Staff 183,384
Additional Staff Benefits 87,100
Current Staff Benefits 98,192
Total Personal Services 750,676
Less Current Funding 331,028
Net Increase 321,456
West Law 30,000
Office Supplies 20,000
Vehicle Cost 3,600
Association Dues 20,000
Less Current Funding 97,851
Net Increase 28,349
Note: All increases will be recovered by a levy on the insurance industry. Net cost to the State is zero dollars.
The bill requires the Office of Insurance Consumer Advocate to be funded by an appropriated special revenue account but all funds from the levy on the insurance companies goes to the general fund. There needs to be a mechanism to move the funding from the general fund back over to the appropriated special revenue account.