Date Requested:January 13, 2011
Time Requested:01:39 PM
Agency: Insurance Commission
CBD Number: Version: Bill Number: Resolution Number:
2011R1211 Introduced HB2065
CBD Subject: DISABILITY AND DEATH BENEFITS
FUND(S)
7162, 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.

    

Fiscal Note Detail
Over-all effect
Effect of Proposal Fiscal Year
2011
Increase/Decrease
(use"-")
2012
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
3. Explanation of above estimates (including long-range effect):
    


Memorandum
Person submitting Fiscal Note:
Michael D Riley
Email Address:
Michael.Riley@wvinsurance.gov
    Unable to adequately price the proposal given the uncertainty of the definition and process for determining if an injury is “foreseeable”. Also, uncertain if the changes are intended to be retroactive. If retroactive, the changes could materially impact the state’s Old Fund liability claims, but to what degree is subject to the definition of a foreseeable injury. If assumed that the determination of a foreseeable injury is made at the Office of Judges, would anticipate additional transaction related costs.
    
    • Workers compensation benefits are tax exempt. The proposal may result in a claimants indemnity payment (wage replacement) exceeding the after tax compensation/indemnity received prior to the injury.