FISCAL NOTE
Date Requested: January 12, 2024
Time Requested: 02:35 PM |
| Agency: |
Insurance Commission |
|---|
| CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
| 1260 |
Introduced |
SB286 |
|
|---|
| CBD Subject: |
|
|---|
|
FUND(S):
7162, 7163, 7164, 7165
Sources of Revenue:
Special Fund
Legislation creates:
Increases Existing Expenses
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
The Offices of the Insurance Commissioner is unable to estimate the fiscal impact of SB286.
See the memorandum section of the fiscal note for additional information.
Fiscal Note Detail
| Effect of Proposal |
Fiscal Year |
2024
Increase/Decrease
(use"-") |
2025
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
The Offices of the Insurance Commissioner is unable to estimate the fiscal impact of SB286.
The OIC does not have data regarding any OP claim applicants being denied a hearing before the OP Board due to time limitations exceeding three years or due to the lack of an impairment diagnosis. The OIC believes that SB286 would increase the expenses of the OIC, but we are unable to quantify the increased expenses accurately at this time.
The OIC funds the costs of the OP Board and any increase in the number of examinations undertaken by the OP Board would increase the expense of the OIC.
Person submitting Fiscal Note: Rhonda Hartwell
Email Address: rhonda.c.hartwell@wv.gov