FISCAL NOTE
Date Requested: February 24, 2021
Time Requested: 01:57 PM |
| Agency: |
Insurance Commission |
|---|
| CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
| 2368 |
Introduced |
HB2758 |
|
|---|
| CBD Subject: |
|
|---|
|
FUND(S):
7152 OIC Operating Fund
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.
House Bill 2758 would transfer the responsibility for the regulation of bail bondsman from the Courts to the Insurance Commissioner.
The OIC is currently unable to quantify the full impact of HB 2758 at this time. While the OIC is able to quantify the amount of increased expenses related to the insurance regulation portion of HB 2758, we need additional time to estimate the additional expenses related to the regulation of Self-insured persons engaged in the bonding business.
The OIC will file an amended fiscal note when the estimate of the self-insured bail bondsman portion is completed.
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 2758 would transfer the responsibility for the regulation of bail bondsman from the Courts to the Insurance Commissioner.
The OIC is currently unable to quantify the full impact of HB 2758 at this time. While the OIC is able to quantify the amount of increased expenses related to the insurance regulation portion of HB 2758, we need additional time to estimate the additional expenses related to the regulation of Self-insured persons engaged in the bonding business.
The OIC will file an amended fiscal note when the estimate of the self-insured bail bondsman portion is completed.
Person submitting Fiscal Note: Melinda Kiss
Email Address: Melinda.A.Kiss@wv.gov