FISCAL NOTE
Date Requested: February 05, 2026
Time Requested: 04:34 PM |
| Agency: |
Insurance Commission |
|---|
| CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
| 3262 |
Introduced |
HB5263 |
|
|---|
| 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.
House Bill 5263, if enacted, prohibits the number of inquiries reflected in a credit report or credit score report from adversely affecting an application for insurance and limits the use of a credit score in casualty insurance rate filings.
See Memorandum Summary for more information.
Fiscal Note Detail
| Effect of Proposal |
Fiscal Year |
2026
Increase/Decrease
(use"-") |
2027
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 5263, if enacted, prohibits the number of inquiries reflected in a credit report or credit score report from adversely affecting an application for insurance; limits the use of a credit score to banking institution credit scoring for casualty insurance rate filings; prohibits reliance on information which is false or potentially false; and limits the use of a credit score in casualty insurance rate filings.
HB5263 would have no fiscal impact on the WV Offices of the Insurance Commissioner.
Person submitting Fiscal Note: Juanita Wimmer
Email Address: juanita.d.wimmer@wv.gov