FISCAL NOTE
Date Requested: February 06, 2015 Time Requested: 03:29 PM |
Agency: |
Insurance Commission |
CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
2265 |
Introduced |
SB313 |
|
CBD Subject: |
Insurance |
---|
|
FUND(S):
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.
Senate Bill 313 does not have fiscal impact on the operations, revenues or expenses to the Offices of the Insurance Commissioner (OIC).
Fiscal Note Detail
Effect of Proposal |
Fiscal Year |
2015 Increase/Decrease (use"-") |
2016 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
SB313, if enacted, would not significantly impact the operations, revenues or expenses of the Offices of the Insurance Commissioner (OIC).
The purpose of SB313 is to clarify that the commencement of a delinquency proceeding of an insurer-member does not operate as a stay of the exercise by a federal home loan bank of its rights regarding collateral pledged by the insurer-member to secure advances, and to provide limitations on the voidance by the receiver of certain transfers made to a federal home loan bank.
Person submitting Fiscal Note: Melinda Kiss
Email Address: Melinda.Kiss@wvinsurance.gov