FISCAL NOTE
Date Requested: February 17, 2017
Time Requested: 03:44 PM |
| Agency: |
Risk and Insurance Management, Board of (BRIM) |
|---|
| CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
| 1815 |
Introduced |
SB266 |
|
|---|
| CBD Subject: |
|
|---|
|
FUND(S):
2360 – State Special Insurance Fund
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.
The proposed legislation indicates that the Board of Risk and Insurance Management (BRIM) shall issue a vehicle specific insurance card to each state vehicle insured by the state that includes, at a minimum, the vehicle identification number, the year, make and model, the date the insurance card was issued, and the name and address of the spending unit. Additional costs for the Board of Risk and Insurance Management will result from the additional information that must be gathered and maintained, and the coordination and dissemination of related information with other state agencies and spending units impacted by the proposed legislation, including the Fleet Management Office, Division of Motor Vehicles, the Enterprise Resource Planning Board and the spending unit Fleet Coordinators.
Fiscal Note Detail
| Effect of Proposal |
Fiscal Year |
2017
Increase/Decrease
(use"-") |
2018
Increase/Decrease
(use"-") |
Fiscal Year
(Upon Full
Implementation) |
| 1. Estmated Total Cost |
0 |
7,500 |
5,000 |
| Personal Services |
0 |
0 |
0 |
| Current Expenses |
0 |
7,500 |
5,000 |
| Repairs and Alterations |
0 |
0 |
0 |
| Assets |
0 |
0 |
0 |
| Other |
0 |
0 |
0 |
| 2. Estimated Total Revenues |
0 |
7,500 |
5,000 |
Explanation of above estimates (including long-range effect):
Estimated increase is for administrative expenses related to additional activities required to gather the initial information mandated by the legislation. Additional expenses will also be incurred to maintain the information and to coordinate with the Fleet Management Office, Division of Motor Vehicles, the Enterprise Resource Planning Board and the spending unit Fleet Coordinators for any changes in the information for vehicle purchases or retirements. Additional costs will be incurred to print, distribute and maintain the insurance cards required for each insured vehicle. Additional costs will likely be recovered by corresponding increases in premiums to insured spending units.
Memorandum
Person submitting Fiscal Note: Stephen Schumacher
Email Address: stephen.w.schumacher@wv.gov