FISCAL NOTE
Date Requested: February 15, 2025
Time Requested: 11:46 AM |
| Agency: |
Financial Institutions, West Virginia Division of |
|---|
| CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
| 2223 |
Introduced |
SB272 |
|
|---|
| CBD Subject: |
Insurance |
|---|
|
FUND(S):
None
Sources of Revenue:
Other Fund None
Legislation creates:
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
Senate Bill 272 will likely have a negligible impact, if any, on the revenues and expenses of state government. It does create the right of the Attorney General to file a civil cause of action against an entity believes to be engaging in a discriminatory practice as described by the bill.
Fiscal Note Detail
| Effect of Proposal |
Fiscal Year |
2025
Increase/Decrease
(use"-") |
2026
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):
The bill creates at best a negligible impact on the revenues and expenses of state government. The Attorney General may be impacted depending upon the number of causes of action that office decides to bring for potential violations of the law.
Memorandum
The prohibition on discriminatory practices outlined in this bill applies not only to financial institutions but also to government entities. It is not possible to determine with any certainty a potential future cost to the state for violations of the law that might occur. The Attorney General's office may incur some costs should it choose to bring a civil cause of action for discriminatory acts that violate the law.
Person submitting Fiscal Note: Kathy Lawson
Email Address: klawson@wvdob.org