FISCAL NOTE
Date Requested: February 22, 2017 Time Requested: 08:28 AM |
Agency: |
Public Employees Insurance Agency (PEIA) |
CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
1715 |
Introduced |
HB2485 |
|
CBD Subject: |
Legislature |
---|
|
FUND(S):
2180
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 |
2017 Increase/Decrease (use"-") |
2018 Increase/Decrease (use"-") |
Fiscal Year (Upon Full Implementation) |
1. Estmated Total Cost |
0 |
-6,371 |
-6,371 |
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