Fiscal Note - State of Utah - 2014 General Session
HB0024S01 - Insurance Related Amendments
State Government (UCA 36-12-13(2)(b)):
Costs to the Insurance Department to fund the retirement changes allowed in the bill for fraud investigations officers could be $62,300 annually. Beginning in FY 2016 the bill also allows Insurance to maintain a larger portion of their fees in the Insurance Department Restricted Account. This could have a $1,950,000 impact on the General Fund. Spending from the Insurance Department Restricted Account affects annual transfers to the General Fund.
| State Budget Detail Table | FY 2014 | FY 2015 | FY 2016 |
| Revenue: | |||
| General Fund | $0 | ($2,012,300) | ($2,012,300) |
| General Fund, One-Time | $0 | $1,950,000 | $0 |
| Restricted Funds | $0 | $62,300 | $2,012,300 |
| Total Revenue | $0 | $0 | $0 |
| Expenditure: | |||
| Restricted Funds | $0 | $62,300 | $62,300 |
| Total Expenditure | $0 | $62,300 | $62,300 |
| Net Impact, All Funds (Rev.-Exp.) | $0 | ($62,300) | ($62,300) |
| Net Impact, General/Education Funds (Rev.-Exp.) | $0 | ($62,300) | ($2,012,300) |
Local Governments (UCA 36-12-13(2)(c)):
Enactment of this bill likely will not result in direct, measurable costs for local governments.
Direct Expenditures by Utah Residents and Businesses (UCA 36-12-13(2)(d)):
Enactment of this bill likely will not result in direct, measurable expenditures by Utah residents or businesses.
Performance Note Required? (Joint Rule 4-2-404): No
| 1/30/2014, 7:27:01 AM, Lead Analyst: Wilko, A./Attny: PO | Office of the Legislative Fiscal Analyst |