FISCAL NOTE
FUND(S):
General Revenue Funds (expenses assessed to insurance companies)
Sources of Revenue:
General Fund
Legislation creates:
Neither Program nor Fund
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
The legislation creates the unit of Insurance Advocacy within the Office of the Attorney General. The purpose of this office will be to represent consumers in all judicial and administrative proceedings involving insurance. The office will have the authority to initiate judicial and administrative proceedings when it is determined to be in the best interest of the insurance consuming public.
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 |
162,826 |
976,956 |
976,956 |
| Personal Services |
126,023 |
756,135 |
756,135 |
| Current Expenses |
36,803 |
175,821 |
175,821 |
| Repairs and Alterations |
0 |
0 |
0 |
| Assets |
0 |
0 |
0 |
| Other |
0 |
0 |
0 |
| 2. Estimated Total Revenues |
162,826 |
931,956 |
931,956 |
Explanation of above estimates (including long-range effect):
Insurance Advocate 125,000
3 attorneys 210,000
3 Financial Analyst 150,000
1 Investigator 42,000
1 Secretary 35,000
Increment 3,500
Total 9 Employees 565,500
Fica 43,260
PEIA (9 employees 710.37 per mo.) 76,720
SUTA 5000
W COMP 6277
CPRB 59378
Total 190635
Unclassified 175821
Total 931956
Personal services will increase with the adition of two employees. The insurance Commission has seven positions in this unit. We would like to add an attorney and an investigator. The other seven positions would be align as detailed above. The increase in personal services is the result of the additional personnel. There is a small increase in unclassified for rental space. The Attorney General's Office is out of physical space to house people.
All cost would be assessed to insurance companies and it would be revenue netural for the State.
Memorandum
Person submitting Fiscal Note: Jerome K. Clay
Email Address: Jclay@wvago.gov