Date Requested:March 25, 2005
Time Requested:10:11 AM
Agency: Insurance Commission
CBD Number: Version: Bill Number: Resolution Number:
2005R1180 Intro HB2873
CBD Subject: Grant Recipients to Provide Healthcare t
FUND(S)
7152
Sources of Revenue
Special Fund
Legislation creates:
Neither Program nor Fund

Fiscal Note Summary

Effect this measure will have on costs and revenues of state government.

    Passage of HB 2873 as proposed would have an estimated cost to state government of $5,000 the first year and $3,000 per year after full implementation. The insurance commission would absorb these costs.
    
    
    The impact on the revenues of state government due to companies no longer qualifying for the tax credit is unknown at this time.

Fiscal Note Detail
Over-all effect
Effect of Proposal Fiscal Year
2005
Increase/Decrease
(use"-")
2006
Increase/Decrease
(use"-")
Fiscal Year
(Upon Full
Implementation)
1. Estmated Total Cost 0 5,000 3,000
Personal Services 0 4,000 3,000
Current Expenses 0 1,000 0
Repairs and Alterations 0 0 0
Assets 0 0 0
Other 0 0 0
2. Estimated Total Revenues 0 0 0
3. Explanation of above estimates (including long-range effect):
    Cost estimates during FY 06 include costs associated with developing an application methodology whereby companies would provide necessary documentation to the Insurance Commission to certify qualifying health care coverage.
    
    
    It is estimated that the administration of the applications and review processes will take approximately 15 days of an insurance commission's rate and review analyst. This cost averages $3,000 per year.
    
    
    Revenue impact has not been estimated, due to the unknown quantity of companies that may no longer qualify for the credit.


Memorandum
Person submitting Fiscal Note:
Michael D. Riley
Email Address:
Michael.Riley@wvinsurance.gov
    The Tax department has also submitted a fiscal note relative to this bill that speaks to the revenue impact.