FISCAL NOTE
Date Requested: February 09, 2018
Time Requested: 08:14 AM |
| Agency: |
Insurance Commission |
|---|
| CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
| 2398 |
Introduced |
HB4479 |
|
|---|
| CBD Subject: |
Insurance |
|---|
|
FUND(S):
7152
Sources of Revenue:
Special Fund
Legislation creates:
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
If enacted, House Bill 4479 will have no fiscal impact on the operations, revenues or expenses of the Offices of the Insurance Commissioner.
Fiscal Note Detail
| Effect of Proposal |
Fiscal Year |
2018
Increase/Decrease
(use"-") |
2019
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
House Bill 4479, if enacted, would ensure that the West Virginia Life and Health Insurance Guaranty Association assesses member insurers in a fair and reasonable manner and has sufficient assessment capacity for all insolvencies.
HB 4479 would update Article 26A in order to maintain consistency with the National Association of Insurance Commissioners (NAIC) Life and Health Insurance Guaranty Association Model Act.
HB 4479 would have no fiscal impact on the Offices of the Insurance Commissioner.
Person submitting Fiscal Note: Melinda Kiss
Email Address: Melinda.A.Kiss@wv.gov