FISCAL NOTE
Date Requested: March 01, 2017
Time Requested: 01:45 PM |
| Agency: |
Insurance Commission |
|---|
| CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
| 2584 |
Introduced |
SB362 |
|
|---|
| CBD Subject: |
Governor -- Bills Requested By |
|---|
|
FUND(S):
7162, 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.
There will be a fiscal impact of reduced revenues to the Worker's Compensation Old Fund if SB 362 is enacted.
There is a Committee Substitute for SB 362, which further impacts the Workers' Compensation Old Fund and also impacts the OIC's Operating Fund.
We are analyzing the impact of the comm. sub. for SB 362 and expect to be able to provide an appropriate fiscal note soon. We will re-submit the fiscal note when all the necessary information is available.
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 |
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
We believe the committee substitute for SB362 contains technical defects that need to be addressed before an accurate fiscal note can be produced.
Clarification on the precise NCCI rates to be utilized (Assigned Risk or Loss Costs) and clarification as to whether the 9% surcharge would be applied to every $100 of payroll multiplied by the NCCI class codes (Assigned risk or otherwise) or whether the 9% surcharge is applied without the per $100 of payroll standard needs to be made in the language of the bill.
Person submitting Fiscal Note: Melinda Ashworth Kiss
Email Address: Melinda.A.Kiss@wv.gov