FISCAL NOTE
Date Requested: March 10, 2021
Time Requested: 10:44 AM |
| Agency: |
Insurance Commission |
|---|
| CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
| 1294 |
Comm. Sub. |
HB2221 |
|
|---|
| CBD Subject: |
|
|---|
|
FUND(S):
7152 OIC Operating Fund
Sources of Revenue:
Special Fund
Legislation creates:
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
House Bill 2221, if enacted, would establish a process in which a person or entity may apply to the Insurance Commissioner for the introduction and utilization of an insurance innovation.
House Bill 2221 will have no significant fiscal impact on the Offices of the Insurance Commissioner.
Fiscal Note Detail
| Effect of Proposal |
Fiscal Year |
2021
Increase/Decrease
(use"-") |
2022
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):
Please explain increases and decreases in personal services, current expenses, repairs and alterations, assets, other costs and revenues, including assumptions and data sources and delineation between start-up and ongoing costs. Please also include a long-range schedule of costs and revenues if fiscal impact is expected to vary in future years.
Memorandum
House Bill 2221, if enacted, would establish a process in which a person or entity may apply to the Insurance Commissioner for the introduction and utilization of an insurance innovation.
House Bill 2221 falls within the scope and authority of the Insurance Commissioner and would not require additional staff or increased expenditures.
House Bill 2221 will have no significant fiscal impact on the Offices of the Insurance Commissioner.
Person submitting Fiscal Note: Melinda Kiss
Email Address: Melinda.A.Kiss@wv.gov