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