FISCAL NOTE
Date Requested: February 05, 2020
Time Requested: 12:46 PM |
| Agency: |
Auditor, State of WV |
|---|
| CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
| 2775 |
Introduced |
SB689 |
|
|---|
| CBD Subject: |
Consumer Protection |
|---|
|
FUND(S):
State Funds
Sources of Revenue:
General Fund
Legislation creates:
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
The purpose of proposed Senate Bill Number 689 is to require drug manufacturers and health benefit plan issuers who sell prescription drugs in West Virginia to provide cost information, changes in cost information, and prescription drug statistics to the State Auditor. The bill requires the Auditor to publish this information on a searchable transparency website available to the public and disclose identities of drug manufacturers and health benefit plan issuers who fail to comply with the requirements of this article.
Fiscal Note Detail
| Effect of Proposal |
Fiscal Year |
2020
Increase/Decrease
(use"-") |
2021
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):
After reviewing and considering the requirements of the proposed legislation, the State Auditor’s Office believes that the development of the proposed website can be done by existing staff within the State Auditor’s Office. We believe there would be no additional costs to the paid from governmental funds provided by the taxpayers, above and beyond, the normal salaries and benefits paid to staff who would assume this development project as a part of their normal, ongoing job duties. However, the ability of the State Auditor to develop the website called for in the proposed Bill is contingent upon the cooperation of the various drug manufacturers and health benefit plan issuers who sell prescription drugs in West Virginia in terms of supplying the necessary data to populate and drive the functionality of the website, as well as, update the website on a routine basis.
Memorandum
We have no additional comments regarding the provisions of proposed Senate Bill 689.
Person submitting Fiscal Note: Michael E. Sizemore, CPA
Email Address: Mike.Sizemore@wvsao.gov