FISCAL NOTE
Date Requested: January 23, 2020 Time Requested: 03:32 PM |
Agency: |
Insurance Commission |
CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
1742 |
Comm. Sub. |
SB275 |
|
CBD Subject: |
Courts |
---|
|
FUND(S):
7152 - Insurance Commissioner Fund
Sources of Revenue:
Special Fund
Legislation creates:
Decreases Existing Expenses
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
Senate Bill 275, if enacted, would reduce the operating costs of the Offices of the Insurance Commissioner by an estimated $2,569,301 by Fiscal Year 2023 and annually thereafter.
Senate Bill 275, if enacted, would create an Intermediate Court of Appeals. SB 275 would transfer the duties of the Worker's Compensation Office of Judges to the Worker's Compensation Board of Review. Senate Bill 275 would expand the Board of Review effective July 1, 2021 and would also terminate the Office of Judges on or before October 1, 2021.
Fiscal Note Detail
Effect of Proposal |
Fiscal Year |
2020 Increase/Decrease (use"-") |
2021 Increase/Decrease (use"-") |
Fiscal Year (Upon Full Implementation) |
1. Estmated Total Cost |
0 |
0 |
-2,569,301 |
Personal Services |
0 |
0 |
-2,066,313 |
Current Expenses |
0 |
0 |
-502,988 |
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):
Agency FY2020 FY2021 FY2022 FY2023
Board of Review $1,009,732.02 $1,009,732.02 $1,940,431.14 $1,940,431.14
Offices of Judges $3,500,000.00 $3,500,000.00 $875,000.00 $-
Total $4,509,732.02 $4,509,732.02 $2,815,431.14 $1,940,431.14
FY2020 and FY2021 are projected at current level costs as the implementation of SB275 is July 1, 2021 (fiscal year 2022.
FY2022 includes 3 months of OOJ's expenditures $875,000 and the increased costs for the expanded Board of Review.
FY2023 estimates reflect the elimination of the Office of Judges and the expanded Board of Review and are the estimated costs for fiscal year 2023 and annually thereafter.
Memorandum
If enacted, Senate Bill 275 would, in part, expand the worker's Compensation Board of Review beginning July 1, 2021 (fiscal year 2022) and terminate the Worker's Compensation Office of Judges on or before October 1, 2021 (fiscal year 2022).
The Office of the Insurance Commissioner (OIC) estimates that the fiscal impact of SB275 would be a reduction in expenses of $2,569,301 in fiscal year 2023 and annually thereafter.
The agency has only estimated the fiscal impact on the OIC, and this fiscal note does not include any estimates for other agencies or governmental entities that may also be impacted by the implementation of SB275.
Person submitting Fiscal Note: Melinda Kiss
Email Address: Melinda.A.Kiss@wv.gov