FISCAL NOTE
Date Requested: February 02, 2016
Time Requested: 04:47 PM |
| Agency: |
Insurance Commission |
|---|
| CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
| 2101 |
Introduced |
SB381 |
|
|---|
| CBD Subject: |
Insurance |
|---|
|
FUND(S):
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 381 has no fiscal impact on the revenues or expenses of the Offices of the Insurance Commissioner.
Fiscal Note Detail
| Effect of Proposal |
Fiscal Year |
2016
Increase/Decrease
(use"-") |
2017
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
If enacted, Senate Bill 381 would amend ยง33-40-3 as related to the Risk Based Capital Trend Test, changing the definition of a company action level event to change the trend test for a Life or Health insurer from two and one half percent to three percent.
SB 381 has no fiscal impact on the revenues or expenses of the Offices of the Insurance Commissioner.
Person submitting Fiscal Note: Melinda Kiss
Email Address: Melinda.Kiss@wvinsurance.gov