FISCAL NOTE

Date Requested: March 14, 2017
Time Requested: 01:21 PM
Agency: Insurance Commission
CBD Number: Version: Bill Number: Resolution Number:
3235 Introduced HB3038
CBD Subject: Insurance, Taxation


FUND(S):

7152

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 Offices of the Insurance Commissioner is uncertain at this time what the fiscal impact of House Bill 3038 would be. Please see the memorandum section of this fiscal note for additional information.



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 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):






Memorandum


The Offices of the Insurance Commissioner would like additional clarification prior to estimating the fiscal impact of House Bill 3038. HB3038 seeks to clarify that merged care organizations shall not be exempt from paying insurance premium taxes. The term "Merged Care Organizations" is not defined in Chapter 33. Accordingly, the OIC requests clarification regarding which types of insurance entities are not to be exempted from taxation.



    Person submitting Fiscal Note: Melinda Ashworth Kiss
    Email Address: Melinda.A.Kiss@wv.gov