FISCAL NOTE
FUND(S):
Road Fund
Sources of Revenue:
Other Fund Road Fund
Legislation creates:
Neither Program nor Fund
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
The purpose of this bill is to clarify that insurance companies must obtain the title to a totaled vehicle when they pay a claim to an insured or claimant.
The bill stipulates that the cost of replacing the airbag is not to be considered when calculating the cost of repair for the purpose of determining whether the vehicle is totaled.
The Division of Motor Vehicles does not feel that any additional cost will be associated with this bill.
No additional revenues will be generated by this bill.
Fiscal Note Detail
| Effect of Proposal |
Fiscal Year |
2007
Increase/Decrease
(use"-") |
2008
Increase/Decrease
(use"-") |
Fiscal Year
(Upon Full
Implementation) |
| 1. Estmated Total Cost |
0 |
0 |
0 |
| Personal Services |
0 |
0 |
0 |
| Current Expenses |
0 |
0 |
0 |
| Repairs and Alterations |
0 |
0 |
0 |
| Assets |
0 |
0 |
0 |
| Other |
0 |
0 |
0 |
| 2. Estimated Total Revenues |
0 |
0 |
0 |
Explanation of above estimates (including long-range effect):
No additional costs or revenues will be generated by this bill.
Memorandum
Person submitting Fiscal Note: Rick Johnston
Email Address: rjohnston@dot.state.wv.us