Fiscal Note - State of Utah - 2012 General Session

HB0029S01 - Insurance Amendments

State Government (UCA 36-12-13(2)(b)):
Enactment of this bill will cost the Department of Insurance $311,500 annually to administer the fraud provisions of the bill. The costs are offset by the increased fees provided in the bill.

State Budget Detail TableFY 2012FY 2013FY 2014
Restricted Funds$0$311,500$311,500
   Total Revenue$0$311,500$311,500
Restricted Funds$0$311,500$311,500
   Total Expenditure$0$311,500$311,500
Net Impact, All Funds (Rev.-Exp.)$0$0$0
   Net Impact, General/Education Funds (Rev.-Exp.)$0$0$0

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 will result in increased assessments on 1,580 companies which vary from $50 to $2,650 annually.

1/26/2012, 11:04:54 AM, Lead Analyst: Wilko, A./Attny: POOffice of the Legislative Fiscal Analyst