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Download Zipped Introduced WP 6.1 HB0054.zip
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AMENDED NOTE
This bill increases the tax rate on insurance premiums by one-half percent for the period starting July 1, 2000 and ending on June 30, 2006 and puts the increased revenue in the Olene Walker Housing Trust Fund. Assuming a growth rate of 3.5 percent annually, the total amount over the 6 years is estimated at $69.2 million. The Insurance Department would have to hire additional help or authorize overtime to process an estimated 6,660 additional filings by insurance companies at a cost of $5,000. Filing fees would generate approximately $133,000 to the General Fund.
| FY 01 Approp. | FY 02 Approp. | FY 01 Revenue | FY 02 Revenue | |
| General Fund | $5,000 | $0 | $133,000 | $0 |
| Trust Funds | $0 | $0 | $10,598,700 | $10,959,000 |
| TOTAL | $5,000 | 0 | $10,731,700 | $10,959,000 |
Office of the Legislative Fiscal Analyst
1/31/00 12:39:47 PM
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