FISCAL NOTE

Date Requested: February 03, 2016
Time Requested: 09:17 AM
Agency: Public Employees Insurance Agency (PEIA)
CBD Number: Version: Bill Number: Resolution Number:
2240 Introduced HB4348
CBD Subject:


FUND(S):

2181

Sources of Revenue:

Special Fund

Legislation creates:

Neither Program nor Fund



Fiscal Note Summary


Effect this measure will have on costs and revenues of state government.


The purpose of this bill is to decrease the basic compensation paid to members of the Legislature and salaries paid to other state officers by five percent. Reducing the PEIA Director’s Salary 5% will save PEIA $7,235 annually. However, since PEIA premiums are based on annual salaries of policyholders, this will also result in a reduction in PEIA premium revenues by an estimated $864 annually. The net annual savings to PEIA due to the 5% reduction is $6,371.



Fiscal Note Detail


Effect of Proposal Fiscal Year
2016
Increase/Decrease
(use"-")
2017
Increase/Decrease
(use"-")
Fiscal Year
(Upon Full
Implementation)
1. Estmated Total Cost 0 0 0
Personal Services 0 -7,235 -7,235
Current Expenses 0 0 0
Repairs and Alterations 0 0 0
Assets 0 0 0
Other 0 0 0
2. Estimated Total Revenues 0 -864 -864


Explanation of above estimates (including long-range effect):






Memorandum






    Person submitting Fiscal Note: Jason Haught
    Email Address: jason.a.haught@wv.gov