FISCAL NOTE
FUND(S):
7152;7163
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.
SB 20 has no significant fiscal impact on the regulatory responsibilities of the Offices of the Insurance Commissioner.
Fiscal Note Detail
| Effect of Proposal |
Fiscal Year |
2013
Increase/Decrease
(use"-") |
2014
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):
Memorandum
SB 20 would have no significant fiscal impact on the regulatory operations of the Offices of the Insurance Commissioner. While it is possible that the OIC would process additional exemption applications if SB 20 is enacted, it does not appear that additional personnel or resources would be required.
Potential does exist that SB 20 could negatively impact the Uninsured Employers Fund (UEF) if exempt taxi cab drivers choose to file claims for benefits for injuries sustained while working. Due to the complexity of the worker's compensation litigation process and the lack of relevant data, it is not possible to estimate the potential impact of SB 20 on the UEF (Fund 7163).
Person submitting Fiscal Note: Melinda Kiss
Email Address: Melinda.Kiss@wvinsurance.gov