FISCAL NOTE
Date Requested: February 13, 2026
Time Requested: 05:49 PM |
| Agency: |
Insurance Commission |
|---|
| CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
| 4104 |
Introduced |
HB5517 |
|
|---|
| CBD Subject: |
Courts |
|---|
|
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 5517, if enacted, relates to the Office of Insurance Commissioner (OIC) maintaining and posting lists of bondsmen.
The provisions outlined in HB5517 will likely have increase the workload of the Licensing and Education Unit. This increase would require the hiring of additional staff to manage the expanded functions in the bill.
See the Memorandum Section 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 |
75,000 |
75,000 |
| 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):
The estimate above accounts for the hiring of one (1) Regulatory Licensing Support Specialist position at $50,000 annual salary and $25,000 employer paid benefits per year.
Memorandum
House Bill 5517, if enacted, expands the existing duties of the Offices of the Insurance Commissioner relating to maintaining and posting lists of bondsmen.
Based on the expanded functions of the bill, the OIC estimates that an additional full time employee (FTE) would be needed to meet the requirements in HB5517. The fiscal impact is estimated to be $50,000 annual salary with $25,000 employer paid benefits per year for a total $75,000 annual increased cost to the OIC.
Person submitting Fiscal Note: Juanita Wimmer
Email Address: juanita.d.wimmer@wv.gov