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.


    HB 2451 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


    HB 2451 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 HB 2451 is enacted, it does not appear that additional personnel or resources would be required.
    
    Potential does exist that HB 2451 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 HB 2451 on the UEF (Fund 7163).



    Person submitting Fiscal Note: Melinda Kiss
    Email Address: Melinda.Kiss@wvinsurance.gov