Fiscal Note

SB0113S02 - Governmental Immunity Limits

State Impact:
Increasing the aggregate damage cap to $2 million for a single occurrence would ultimately increase liability premiums. These premiums would be adjusted by the Division of Risk Management based on each agency/institution's actual history and actuarial calculations, and take effect in FY 2008. Estimates are that this bill would cause a 5 percent increase in liability premiums paid by state agencies and institutions, or approximately $750,000 across all funding sources statewide. Any increased costs for the Attorney General's office would be paid by the Division of Risk Management from funds collected in the rates.

Individual and Business Impact:
Individuals taking action against the state may benefit by a higher aggregate damage cap for a single occurrence.

Office of the Legislative Fiscal Analyst
2/21/2006, 8:10:40 AM